Homework Answers
Journal entry
| Date | account title and explanation | Debit | Credit |
| Jan 1 | cash | 44000 | |
| Bonds payable | 44000 | ||
| (To record bond issue) | |||
| June 30 | Interest expense (44000*7.5%*6/12) | 1650 | |
| Cash | 1650 | ||
| (To record interest paid) | |||
| Dec 31,2023 | Bonds payable | 44000 | |
| Cash | 44000 | ||
| (To record maturity) | |||
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