Question

0 Homework 1 Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $2,600,000 par value, mature in four years, and pay 9% interest semiannually on June 30 and December 31. 1. Record the entry for the issuance of bonds for cash on January 1. 2. Record the entry for the first semiannual interest payment and the second semiannual interest payment. 3. Record the entry for the maturity of the bonds on December 31, 2022 (assume semiannual interest is already recorded). View transaction list 1 Record the issuance of bonds for cash on January 1. 2 Record the cash paid for the first semiannual interest payment on June 30. 3 Record the cash paid for the second semiannual interest payment on December 31. Credit 4 Record the payment of the bonds at maturity (assume semiannual interest is already recorded). Note : - Journal entry has been entered < Prey 4 of 4 !!! Next >

Answer 1

Date	General Journal	Debit	Credit
Jan 1, 2019	Cash	$2600000
	Bonds payable		$2600000
June 30, 2019	Interest Expense (2600000*9%*6/12)	117000
	Cash		117000
Dec 31, 2019	Interest Expense (2600000*9%*6/12)	117000
	Cash		117000
Dec 31, 2022	Bonds payable	$2600000
	Cash		$2600000