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Marigold Cleaners issued 700,000 of 11%,20-year bonds on January 1,2022, at 118,402 to yield 9%....

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Accounting

Marigold Cleaners issued 700,000 of 11%,20-year bonds on January 1,2022, at 118,402 to yield 9%. Interest is payable
semiannually on July 1 and January 1.
Prepare the journal entries to record the following. (Credit account titles are outomatically indented when the amount is entered. Do not
indent manually. Round answers to 0 decimal places, es.5,275. If no entry is required, select "No Entry" for the account titles and enter O for the
amounts)
(a) The issuance of the bonds.
(b) The payment of interest and the related amortization on July 1.2022.
(c) The accrual of interest and the related amortization on December 31,2022
Date
2
Account Titles and Explanation
Cash
Debit
interest expense
bonds pauable
cash
122
Account Tities and Explanation
Bonds paryabie
[37297],[1203]
Bonds payable
Interest payable
Credit
image

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