Deleau Equipment Ltd. issued 11%, five-year bonds with a face value of $80,240,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 each year. Deleau's year end is December 31. Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Tities and Explanation Debit Credit Oct. 1

Deleau Equipment Ltd. issued 11%, five-year bonds with a face value of $80,240,000 on October 1, 2020. The bonds were issued at par and pay interest on March 31 and September 30 each year. Deleau's year end is December 31. Prepare the journal entry for the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Date Account Tities and Explanation Debit Credit Oct. 1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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