Suppose Andersen Brothers purchases $400,000 of 7.5% annual bonds of McPhee Corporation at face value on January 1, 2018. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2022. Anderson intends to hold the McPhee bond investment until maturity. Read the requirements. Requirement 1. Journalize Andersen Brothers's transactions related to the bonds for 2018. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Begin by journalizing Andersen Brothers'investment on January 1, 2018. Date Accounts and Explanation Debit Credit 2018 Jan. 1 X Requirements 1. Journalize Andersen Brothers's transactions related to the bonds for 2018. 2. Joumalize the entry required on the McPhee bonds maturity date. (Assume the last interest payment has already been recorded.) Next, joumalize the receipt of cash interest on June 30, 2018. Date Accounts and Explanation 2018 Jun. 30 Print Done Journalize the receipt of cash interest on December 31, 2018. Date Accounts and Explanation Debit Credit 2018 Dec. 31 Suppose Andersen Brothers purchases $400,000 of 7.5% annual bonds of McPhee Corporation at face value on January 1, 2016. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2022. Anderson intends to hold the McPhee bond investment until maturity. Read the requirements Requirement 1. Joumalize Andersen Brothers's transactions related to the bonds for 2018. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Begin by journalizing Andersen Brothers' investment on January 1, 2018. Date Accounts and Explanation Debit Credit 2018 Jan. 1 Next, joumalize the receipt of cash interest on June 30, 2018. Date Accounts and Explanation Debit Credit 2018 Jun. 30 Journalize the receipt of cash interest on December 31, 2018 Date Accounts and Explanation Debit Credit 2018 Dec. 31 Suppose Andersen Brothers purchases $400,000 of 7.5% annual bonds of McPhee Corporation at face value on January 1, 2016. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2022. Anderson intends to hold the McPhee bond investment until maturity. Read the requirements Da Accounts and explanation Upit crear 2018 Jun. 30 Journalize the receipt of cash interest on December 31, 2018. Date Accounts and Explanation Debit Credit 2018 Dec. 31 Requirement 2. Journalize the entry required on the McPhee bonds maturity date. (Assume the last interest payment has already been recorded.) (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2022 Dec. 31
