Schlitterbahn Waterslide Company issued 31,000, 10-year, 4 percent, $100 bonds on January 1 at face value. Interest is payable each December 31.

(a)

The issuance of these bonds on January 1.

(b)

The first interest payment on December 31 Prepare the journal entries for the transactions above. 1. Schlitterbahn Waterslide Company issued 31,000, 10-year, 4 percent, $100 bonds on January 1 at face value. Interest is payable each December 31. Record the issuance of 31,000 bonds at face value for $100 each. 2. Schlitterbahn Waterslide Company issued 31,000, 10-year, 4 percent, $100 bonds on January 1 at face value. Interest is payable each December 31. Record the interest payment on December 31, 2013.