Enviro Company issues 10%,10-year bonds with a par value of $320,000 and semiannual interest payments....

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Accounting

Enviro Company issues 10%,10-year bonds with a par value of $320,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 8812.
Prepare the journal entry for the issuance of the bonds for cash on January 1.
Journal entry worksheet
1
Record the issue of bonds with a par value of $320,000.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[January,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]
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