Question

Bramble Corp. issued 1,200 9 %,8-year, $1,000 bonds dated January 1,2022 at face value. Interest is paid each January 1. ort (a) Prepare the journal entry to record the sale of these bonds on January 1,2022. (Credit account titles one automaticaly indented when amount is entered. Do not indent manually) Date Debit Credit Account Titles and Explanation Jan 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record Interest expense (Credit account titles are automatically indented when amount is entered. Do not indent manually) Credit Debit Account Titles and Explanation Date Dec. 31, 2022 (c) Prepare the journal entry on January ,2023, to record inberest pald.(Credit account titles are automatically indented when amount is entered Do net indent manaoly 4 8 6 5 4 3 1P Y R K G D B V X option command omman S

Answer 1

Solution Date Account titles and Explanation . Debit I Gredit Jani, 2022 1200000 Bark ala Dr To 9% Bonds payable alc 1200 000 Date Account titles and Explanation Debit . Gedit 108000 Dec 31, 2022 Interest Expenses ale do C1200000 X 9%) To Interest payable alc 108000 Account title and Explanation I Dent Credit Date 108000 I Interest payable al Ay Jarl, 2023 108000 To Bank ale