Kingbird, Inc. has issued three different bonds during 2019. Interest is payable annually on each...
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Kingbird, Inc. has issued three different bonds during 2019. Interest is payable annually on each of these bonds. 1. 2. 3, On January 1, 2019, 1,100, 8%, 5-year, $ 1,100 bonds dated January 1, 2019, were issued at face value. On July 1, $ 728,000, 9%, 5-year bonds dated July 1, 2019, were issued at 101. on September 1, $ 313,000, 7%, 5-year bonds dated September 1, 2019, were issued at 99. Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. Jan. 1 1. Jan. 1 Cash Bonds Payable 735280 2. | July 1 | Cash 7280 Premium on Bonds Payable 728000 Bonds Payable 309870 3. Sept. 1 Cash 3130 Discount on Bonds Payable 313000 Bonds Payable
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