Required:

$1.$ If the market interest rate is $8\%,$ the bonds will issue at $$590,000.$ Record the bond issue on January $1,2024,$ and the first two semiannual interest payments on June $30,2024,$ and December $31,2024.($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$Required information

Problem $9-5$A $($Algo$)$ Record bond issue and related interest $($LO$9-5)$

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $$590,000$ of $8\%$

bonds, due in $15$ years, with interest payable semiannually on June $30$ and December $31$ each year.

Problem $9-5$A $($Algo$)$ Part $1$

Required:

If the market interest rate is $8\%,$ the bonds will issue at $$590,000.$ Record the bond issue on January $1,2024,$ and the first two

semiannual interest payments on June $30,2024,$ and December $31,2024.($If no entry is required for a particular transaction$/$event$,$

select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

Record the bond issue.

Note: Enter debits before credits.