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Required: Journal entry worksheet: Journal entry worksheet. (. Record the issuance of bonds of $280,000 at fact wilut. Wate. Erter debits before evdth. On January
Required: Journal entry worksheet: Journal entry worksheet. (. Record the issuance of bonds of $280,000 at fact wilut. Wate. Erter debits before evdth. On January 1, Franco's French Fry Cafe, issued $280,000 in bonds at face value. The bonds hove a stated intereut rate of 5 peroent. The bonds mature in 10 years and pay interest once per year on December 31. Required: 1. 2 \& 3. Prepare the required journal entries to record the bond issuance, interest payment on December 31, eany rumicumert of the Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits. On January 1, Franco's French Fry Cafe, issued $280.000 in bonds at face value. The bonds have a stated interest rate of 5 percent. The bonds mature in 10 years and pay interest once per year on December 31 . Required: 1. 2 \& 3. Prepare the required journal entries to record the bond issuance, interest payment on December 31 , early retirement of the bonds. Assume the bonds were retired immediately after the first interest payment (on December 3i) at a quoted price of 103 [S.-.To determine the sales price at early retirement, multiply the original face value of the bonds times this percentage]. (if no entry is required for a transaction/event, select "No Journat Entry Required" in the first account field.) Journal entry worksheet Record the retirement of the bonds at a quoted price of 103. Note: Enter debits before credits
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