Oriol Cleaners issued €700,000 of 9%, 20-year bonds on January 1, 2022, at 91.42 to yield 10%. Interest is payable semiannually on July 1 and January 1. Prepare the journal entries to record the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry for the account titles and enter O for the amounts) (a) (b) (c) No. The issuance of the bonds. The payment of interest and the related amortization on July 1, 2022. The accrual of interest and the related amortization on December 31, 2022. Date Account Titles and Explanation Debit Credit

Oriol Cleaners issued €700,000 of 9%, 20-year bonds on January 1, 2022, at 91.42 to yield 10%. Interest is payable semiannually on July 1 and January 1. Prepare the journal entries to record the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry for the account titles and enter O for the amounts) (a) (b) (c) No. The issuance of the bonds. The payment of interest and the related amortization on July 1, 2022. The accrual of interest and the related amortization on December 31, 2022. Date Account Titles and Explanation Debit Credit

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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