Kingbird, Inc. has issued three different bonds during 2022. Interest is payable annually on each of these bonds. On January 1, 2022, 1,100, 8%, 5-year. $1,000 bonds dated January 1, 2022, were issued at face value. On July 1, $728,000, 9%, 5-year bonds dated July 1, 2022, were issued at 101. On September 1, $313,000, 7%, 5-year bonds dated September 1, 2022, were issued at 99. 1 2. 3 Prepare the journal entry to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. 1. 2. 3 Date Sept. 1 Account Titles and Explanation Debit Credit
Kingbird, Inc. has issued three different bonds during 2022. Interest is payable annually on each of these bonds. On January 1, 2022, 1,100, 8%, 5-year. $1,000 bonds dated January 1, 2022, were issued at face value. On July 1, $728,000, 9%, 5-year bonds dated July 1, 2022, were issued at 101. On September 1, $313,000, 7%, 5-year bonds dated September 1, 2022, were issued at 99. 1 2. 3 Prepare the journal entry to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. 1. 2. 3 Date Sept. 1 Account Titles and Explanation Debit Credit
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 6PA: Aggies Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...
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Transcribed Image Text:Kingbird, Inc. has issued three different bonds during 2022. Interest is payable annually on each of these bonds.
On January 1, 2022, 1,100, 8%, 5-year, $1,000 bonds dated January 1, 2022, were issued at face value.
On July 1, $728,000, 9%, 5-year bonds dated July 1, 2022, were issued at 101.
On September 1, $313,000, 7%, 5-year bonds dated September 1, 2022, were issued at 99.
1.
2
3.
Prepare the journal entry to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when
amount is entered. Do not indent manually)
Date Account Titles and Explanation
No.
1.
2
3
Sept. 1
Debit
Credit
Wha
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