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On January 1, Kirkland Company issued $ 300,000, 8%, 10-year bonds at face value. Interest...

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Accounting

On January 1, Kirkland Company issued $ 300,000, 8%, 10-year bonds at face value. Interest is payable annually on January 1.

Prepare journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit
Jan. 1

Prepare journal entry to record the accrual of interest on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit
Dec. 31

Prepare journal entry to record the payment of interest on January 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit
Jan. 1

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