On January 1, 2021, Lost Corporation issued $900,000, 8%, 10-year bonds at face value. Interest is payable annually on January 1. Lost Corporation has a calendar year end. Prepare all entries related to the bond issue for 2021 and January 1, 2022. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
On January 1, 2021, Lost Corporation issued $900,000, 8%, 10-year bonds at face value. Interest is payable annually on January 1. Lost Corporation has a calendar year end. Prepare all entries related to the bond issue for 2021 and January 1, 2022. (Credit account titles are automatically indented when the 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. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 9RE
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
Transcribed Image Text:On January 1, 2021, Lost Corporation issued $900,000, 8%, 10-year bonds at face value. Interest is payable annually on January 1.
Lost Corporation has a calendar year end.
Prepare all entries related to the bond issue for 2021 and January 1, 2022. (Credit account titles are automatically indented when the
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. Record
journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
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