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On August 1, 2017, Indigo Corporation issued $504,000, 8%, 10-year bonds at face value. Interest is...

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Accounting

On August 1, 2017, Indigo Corporation issued $504,000, 8%,10-year bonds at face value. Interest is payable annually on August1. Indigo’s year-end is December 31.

Prepare a tabular summary to record the following events.

(a)The issuance of the bonds.
(b)The accrual of interest on December 31, 2017.
(c)The payment of interest on August 1, 2018.
Cash=Bonds Pay.+Interest Pay.+Common Stock+

Revenue

-Expense-Dividend

Aug 1 2017 504000(cash) 504000(bonds)

Dec 31 2017 ??????? Need help with this part

Aug 1 2018 -40320 (cash) ???? interest pay and expense ??????help

Dec 31 2017

Aug 1 2018

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