Brief Exercise 9-8 (Algo) Record bond issue at face amount and related semiannual interest (LO9-4) Pretzelmania, Incorporated, issues 7%, 10-year bonds with a face amount of $57,000 for $57,000 on January 1, 2024. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Brief Exercise 9-8 (Algo) Record bond issue at face amount and related semiannual interest (LO9-4) Pretzelmania, Incorporated, issues 7%, 10-year bonds with a face amount of $57,000 for $57,000 on January 1, 2024. Interest is paid semiannually on June 30 and December 31. Required: 1. & 2. Record the bond issue on January 1, 2024 and first interest payment on June 30, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Brief Exercise 9-8 (Algo) Record bond issue at face amount and related semiannual interest (LO9-4)
Pretzelmania, Incorporated, issues 7%, 10-year bonds with a face amount of $57,000 for $57,000 on January 1, 2024. Interest is paid
semiannually on June 30 and December 31,
Required:
1. & 2. Record the bond issue on January 1, 2024 and first interest payment on June 30, 2024. (If no entry is required for a particular
transaction/event, select "No Journal Entry Required" in the first account field.)
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