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On January 1, 2025, Oriole Corporation issued $630,000 of 9% bonds, due in 10 years. The bonds were issued for $590,744, and pay interest each July 1 and January 1. Oriole uses the effective-interest method. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 10%. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Jan. 1, 2025 uly 1, 2025 Dec 31, 2025 4 Account Titles and Explanation cash Discount on Bonds Payable Bonds Payable Interest Expense Discount on Bonds Payable Cash Interest Expense Discount on Bonds Payable Interest Payable Debit 590,744 39,256 29,537 0010 Credit 630,00

On January 1, 2025, Oriole Corporation issued $630,000 of 9% bonds, due in 10 years. The bonds were issued for $590,744, and pay interest each July 1 and January 1. Oriole uses the effective-interest method. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 10%. (Round answers to 0 decimal places, es. 38, 548 . If no entry is required, select "No Entry" for the occount tities and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) January 1,2025, Oriole Corporation issued $630,000 of 9% bonds, due in 10 years. The bonds were issued for $590,744, and pay terest each July 1 and January 1 . Oriole uses the effective-interest method. repare the companys journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 djusting entry. Assume an effective-interest rate of 10%. (Round answers to 0 decimal places, eg. 38,548. If no entry is required, select 'No itry" for the occount titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not dent manually, (ist all debit entries before credit entries)

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