Question 1 On May 1, 2017, Bridgeport Industries AG issued CHF180,000, 8%, 5-year bonds at face value. The bonds were dated May 1, 2017, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 1, 2017 Prepare the adjusting entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 125.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Show the statement of financial position presentation on December 31, 2017. (Round answers to 0 decimal places, e.g. 125.) BRIDGEPORT INDUSTRIES AG Statement of Financial Position CHFI CHF Prepare the journal entry to record payment of interest on May 1, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 125.) Date Account Titles and Explanation Debit Credit May 1, 2018 Prepare the adjusting entry to record the accrual of interest on December 31, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 125.) Debit Credit Date Account Titles and Explanation Dec. 31, 2018 Assume that on January 1, 2019, Bridgeport pays the accrued bond interest and calls the bonds at 105. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 125.) Date Account Titles and Explanation Debit Credit Jan. 1, 2019 Jan. 1, 2019