Two independent situations follow:

On January $1,2023,$ Concord Limited issued $$260,000$ of $10-$year, $9\%$ bonds at par. Interest is payable quarterly on April $1,$

July $1,$ October $1,$ and January $1.$

On June $1,2023,$ Pharoah Inc. issued at par, plus accrued interest, $$201,000$ of $10-$year, $10\%$ bonds dated January $1.$ Interest

is payable semi$-$annually on July $1$ and January $1.$

$($a$)$

Prepare journal entries to record the issuance of the bonds. $($Credit account titles are automatically indented when the

amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for

the amounts. List all debit entries before credit entries.$)$

Date Account Titles and Explanation

Debit

Credit

Concord Limited

Pharoah Inc.