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Presented below are two independent situations. 1. On January 1, 2020, Tamarisk Company issued $408,000 of 9%,10-year bonds at par. Interest is payable quarterly on
Presented below are two independent situations. 1. On January 1, 2020, Tamarisk Company issued $408,000 of 9%,10-year bonds at par. Interest is payable quarterly on April 1 . July 1, October 1 , and January 1. 2. On June 1, 2020. Vaughn Company issued $360.000 of 11%,10-year bonds dated January 1 at par plus accrued interest. Interest is payable semiannually on July 1 and January 1. For each of these two independent situations, prepare journal entries to record the following (If no entry is required, select "No Entry" for the account tities and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent monually) (a) The issuance of the bonds. (b) The payment of interest on July 1. (c) The accrual of interest on December 31. \begin{tabular}{|c|l|} \hline Date Account Titles and Explanation \\ \hline 1. & Tamarisk Company: \\ \hline 1/1/20 & Cash \\ \hline 7/1/20 & Bonds Paysble \\ \hline \end{tabular} Premium on Bonds Payable 2. Vaughn CompanN: Question 3 of 12> 2. Vaughn Companyz
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