Question $1$ of $7$

$\frac{-}{0\mathrm{.}5}$

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On January $1,2027,$ Morris Enterprises issued $9\%,5-$year bonds with a face amount of $$900,000$ at par. Interest is payable annually on January $1.$

Prepare the entries to record the issuance of the bonds and the first annual interest accrual on December $31.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit