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On October 1, 2024, Ayayai Corp. issued $720,000, 5%, 10-year bonds at face value. The bonds were dated October 1, 2024, and pay interest annually on October 1. Financial statements are prepared annually on December 31. (a) Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is ered. Do indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) te 024 Your answer is correct. (b) Account Titles and Explanation Cash Bonds Payable eTextbook and Media List of Accounts Debit liji 720000 Credit 720000 Attempts: 1 of 15 used Drenare the adiucting entry to record the accrual of interest on December 31, 2024 II ist all dehit entries hofare credit entries Credit

On October 1, 2024, Ayayal Corp, issued $720,000,5%,10-year bonds at face value. The bonds were dated October 1, 2024, and pay interest annualy on October 1. Financial statements are prepared annually on December 31. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select " No Entry" for the occount titles and enter O for the amounts) (b) Prepare the adjusting entry to record the accrual of interest on December 31, 2024. (List all debit entries before credit entries, Credit occount tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tities and enter O for the amounts.) Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2024. Prepare the journal entry to record the paryment of interest on October 1, 2025. (Uist all debit entries before credit entries. Credit account titles are automoticolly indented when amount is entered. Do not indent manualy. If no entry is required, select "No Entry' for the occount titles and enter Ofor the amounts) Prepare the adfusting entry to record the accrual of interest on December 31,2025 . Qhit all debit entries before credit entries Credit occount titles are automatically indented when amount is entered. Do not indent monually, If no entry fs required, select "No Entry" for the account titles and enter 0 for the amounts) Assume that on Jaouary 1,2026, Ayayal pays the accrued bond interest and calls the bonds. Thecall price is 102 Record the payment of interest and redemption of the bonds, Uist all debit entries before credit entries, Crealt account tifles are automatioally indented when amount is entered. Do not indent manually, If no entry b required, select "No Entry" for the occount titles end enter O for the apounts)

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