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Powell Company issued a $400,000,9%,10-year bond payable at face value on January 1,2018. Interest is...

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Accounting

Powell Company issued a $400,000,9%,10-year bond payable at face value on January 1,2018. Interest is paid semiannually on January 1 and July 1.
Requirements
Journalize the issuance of the bond payable on January 1,2018.
Journalize the payment of semiannual interest on July 1,2018.
Requirement 1. Journalize the issuance of the bond payable on January 1,2018.(Record debits first, then credits. Select explanations on the last line of the journal entry.)
\table[[Date,Accounts and Explanation,Debit,Credit],[2018],[Jan.1],[,,,],[,,,],[,,,],[,,,]]
Requirement 2. Journalize the payment of semiannual interest on July 1,2018.(Record debits first, then credits. Select explanations on the last line of the journal entry.)
\table[[Date,,Accounts and Explanation,Debit,Credit],[2018,,,,]]
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