Homework Answers
| Date | Account Titles and Explanation | Debit | Credit | |
| 2020 | ||||
| Jan. 1 | Cash | $730,000 | ||
| Bonds Payable | $730,000 | |||
| (To record the issue of bonds payable) | ||||
| Dec. 31 | Interest Expense | $43,800 | ($730,000 x 6%) | |
| Interest Payable | $43,800 | |||
| (To record interest expenses) | ||||
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