US Weygandt, Accounting Principles, 12e ACC 114/121 (ACC 114/12 a Practice Assignment Gradebook ORION Downloadable eTextbook NEXT Question 1 On May 1, 2017, Herron Corp. issued $910,000, 8%, 5-year bonds at face value. The bonds were dated May 1, 2017, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation May 1, 2017 Prepare the adjusting entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,675.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017