Omn: Flim Corporation had a $1,300,000, 9.5% bond avallable for issue on Apri. Interest is to be pald on the last day of each month.On Apill 14 and 25, bonds with a face value of $915,000 and $385,000, respectively, were issued at par. Record the entries for April 14.25, and 30

Omn: Flim Corporation had a $1,300,000, 9.5% bond avallable for issue on Apri. Interest is to be pald on the last day of each month.On Apill 14 and 25, bonds with a face value of $915,000 and $385,000, respectively, were issued at par. Record the entries for April 14.25, and 30

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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Question

Omni Film Corporation had a $1,300,000, 9.5% bond available for Issue on April 1. Interest is to be paid on the last day of each month.
On April 14 and 25, bonds with a face value of $915,000 and $385,000, respectively, were issued at par. Record the entries for April 14
25, and 30. (Do not round Intermediate calculations. Round the final answers to the nearest whole dollar. Assume 365 days a
year.)
N
No
Date
April 14
Cash
Bonds payable
April 25
Cash
April 30
Bonds payable
Bond interest expense
Interest payable
Answer is not complete.
General Journal
Debit
Credit
915,000 (X)
915,000
385,000 X
385,000
4.311 x
4.311 x

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