QUESTION 1 On March 31 , 2015 , Gardner Corporation received authorization to issue $50, 000 Of 9 percent , 30 - year bonds payable . The bonds pay interest on March 31 and September 30 . The entire issue Was dated March 31 , 2015 , but the bonds were not issued until April 30, 2015 . They were issued at face value . Record entries issue of bonds and related interest expense . Date General Journal Debit APT. 30 Cash Bonds payable Bond interest payable Sept . 30 Bond interest payable Bond interest expense Cash DEC . 31 Bond interest expense Bond interest payable*