The Square Foot Grill, Inc., issued $200,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization.

9.

value: 0.50 points

Required information

Required

a.

Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

(The following infomation applies to the questions aisplayed below. The Square Foot Grill, Inc., issued $200,000 of 10 year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization Required information 0.50 points Required a. Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (If no entry is required for a transaction event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 6 Record the issue of bonds payable with premium. Note: Enter debits before credits Date General Journal Debit Credit Jul 01, 2016 Record entry Clear entry View general journal