Prepare the accounting entries (daily) in the sale of Bonds and to record the payment of the interest in one year.

You will need to show the counts (if you don't show the counts, you receive no score). all computation must be done on the test pages.

Exercise 1

On January 1, 2023, SONY Corporation issued $300,000, 8%, 10-year bonds at value nominal. Interest is paid semi-annually on July 1 and January 1. SONY uses calendar year. Make all journal entries for the year 2023.