There are 3 entries to record:

1. Record the Bond issue

2. Record the first semiannual interest payment

3. Record the second semiannual interest payment

Exercise 9-10A Record bonds issued at face amount and related semiannual interest (LO9-5) On January 1, 2021, White Water issues $520,000 of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the market interest rate on the issue date is 5%, the bonds will issue at $520,000. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet