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. 4 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 Titles 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. 4 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 Titles and Explanation Debit Credit Oct. 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please explan
Transcribed Image Text:Prepare the journal entry required at December 31, 2020, and the entries for the interest payments on March 31 and September
30, 2021. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select
"No Entry for the occount tities and enter O for the amounts)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31,
2020
Mar 31,
2021
Sept. 30,
2021
Transcribed Image Text: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.
4
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 Titles and Explanation
Debit
Credit
Oct. 1
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