Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value....
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Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan: 1, 2022 Date Account Titles and Explanation Dec. 31, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Account Titles and Explanation Credit Debit Credit
Indigo Corporation issued 3,000 8\%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1 . (a) Prepare the journal entry to record the safle of these bonds on January 1,2022. (Credit occount titles are outomatically indented when amount is entered. Do not indent manually.) (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are outomatically indented when amount is entered. Do not indent manually.) (c) Prepare the journal entry on January 1,2023, to record interest paid. (Credit account titles ore outomotically indented when amount is entered. Do not indent manually)
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