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  3. powell company issued an $800,000, 10%, 10-year bo

Powell Company issued an $800,000, 10%, 10-year bond payable at face value on January 1,...

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Accounting

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Powell Company issued an $800,000, 10%, 10-year bond payable at face value on January 1, 2018 Interest is paid semiannually on January 1 and July 1. Requirements 1. Journalize the issuance of the bond payable on January 1, 2018. 2. 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.) DebitCredit Date 2018 Jan. 1 Accounts and Explanation 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.) DebitCredit Date 2018 Jul. 1 Accounts and Explanation

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