Please show your work, Stay awesome! On August 1, 2022. Pina Colada Corp....
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Please show your work, Stay awesome! On August 1, 2022. Pina Colada Corp. issued $585,000,10%, 10-year bonds at face value. Interest is payable annually on August 1 Pina Colada's year-endis December 31. (a) Prepare the 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 Aug 1 Cash Bonds Payable (b) Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec 31 Interest Expense Interest Payable (c) Prepare the journal entry to record the payment of interest on August 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug 1
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