Presented below are two independent situations.

On January $1,2020,$ Novak Company issued $$300,000$ of $8\%,10-$year bonds at par. Interest is payable quarterly on April $1,$ July $1,$ October $1,$ and January $1.$

On June $1,2020,$ Splish Company issued $$252,000$ of $10\%,10-$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. IIf no enty is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles ore autbmatically indented when amount is entered. Do not indent monuallycl

$($a$)$ The issuance of the bonds.

$($b$)$ The payment of interest on July $1$

$($c$)$ The accrual of interest on December $31.$

Date : Account Titles and Explanation

$1$ Novak Company:

Cash

Bonds Pryable

Interest Expense

$\frac{12}{31}\frac{?}{20}$

Interest Expense

Interest Payable

$2$ Splish Companys

$\frac{6}{1}\frac{?}{20}$

Interest Expense

interest Expense

Interest Payable

$\frac{2}{\frac{6}{1}\frac{?}{20},v}$

splish Company,

$$

Interest Expense

Bonds Pryable

Interest Expense

Interest Expense