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5 Sundland Company issued $586,500 of 8%,10-year bonds on January 1,2022, at face valuc. Interest...

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Accounting

5 Sundland Company issued $586,500 of 8%,10-year bonds on January 1,2022, at face valuc. Interest is payable annually on January 1,2023.
a Prepare the journal entry to record the issuance of the bonds.
b Prepare the journal entry to record the accrual of interest on December 31,2022.
c Prepare the journal entry to record the payment of interest on January 1,2023.
d Prepare the journal entry to record the redemption of bonds at maturity, assuming interest for the last interest period has been paid and recorded.
6 Blossom Company issued bonds with a face amount of $1,550,000 in 2015. As of January 1,2020, the balance in Discount on Bonds Payable is $4,000. At that time, Blossom redeemed the bonds at 101.
Assuming that no interest is payable, make the entry to record the redemption.
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