E15-2 Xenia Corporation issued 3,000, 8%, 5 year, $1,000 bonds dated January 1, D12, at 100. 1) Prepare the journal entry to record the sale of these bonds on January 1, 2012. >) Prepare the journal entry to record the first interest payment on July 1, 2012 nterest payable semiannually), assuming no previous accrual of interest. ) Prepare the adjusting journal entry on December 31, 2012, to record interest pense.
E15-2 Xenia Corporation issued 3,000, 8%, 5 year, $1,000 bonds dated January 1, D12, at 100. 1) Prepare the journal entry to record the sale of these bonds on January 1, 2012. >) Prepare the journal entry to record the first interest payment on July 1, 2012 nterest payable semiannually), assuming no previous accrual of interest. ) Prepare the adjusting journal entry on December 31, 2012, to record interest pense.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:BE15-2 Xenia Corporation issued 3,000, 8%, 5 year, $1,000 bonds dated January 1,
2012, at 100.
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2012.
(b) Prepare the journal entry to record the first interest payment on July 1, 2012
(interest payable semiannually), assuming no previous accrual of interest.
(c) Prepare the adjusting journal entry on December 31, 2012, to record interest
expense.
Date
(a)
(b)
Account Name
Debit
Credit
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