Pudda

Company issued

a

$500,000,

7%,

10-year

bond payable at face value on January 1,

2018.

Interest is paid semiannually on January 1 and July 1.

Requirements

1.	Journalize the issuance of the bond payable on January 1, 2018.
2.	Journalize the payment of semiannual interest on July 1, 2018.

Requirement 1. Journalize the issuance of the bond payable on January 1,

2018.

(Record debits first, then credits. Select explanations on the last line of the journal entry.)

Date			Accounts and Explanation	Debit	Credit
2018
Jan. 1

Requirement 2. Journalize the payment of semiannual interest on July 1,

2018.

(Record debits first, then credits. Select explanations on the last line of the journal entry.)

Date			Accounts and Explanation	Debit	Credit
2018
Jul. 1

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