Part 1 Prepare journal entries to the following. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) a. Issuance of the bonds on June 1, 2023 b. Payment of interest on December 1, 2023 c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2024 d. Payment of interest on June 1, 2024 Assume JetCom Inventors Inc. has a January 31 year-end. View transaction list Journal entry worksheet 1 2 3 4 Record issued bond at discount. Note: Enter debits before credits. Date June 01, 2023 General Journal Debit Credit >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Part 1
Prepare journal entries to the following. (Do not round intermediate calculations. Round the final answers to the nearest whole
dollar.)
a. Issuance of the bonds on June 1, 2023
b. Payment of interest on December 1, 2023
c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2024
d. Payment of interest on June 1, 2024
Assume JetCom Inventors Inc. has a January 31 year-end.
View transaction list
Journal entry worksheet
1
2
3
4
Record issued bond at discount.
Note: Enter debits before credits.
Date
June 01, 2023
General Journal
Debit
Credit
>
Transcribed Image Text:Part 1 Prepare journal entries to the following. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) a. Issuance of the bonds on June 1, 2023 b. Payment of interest on December 1, 2023 c. Adjusting entry to accrue bond interest and discount amortization on January 31, 2024 d. Payment of interest on June 1, 2024 Assume JetCom Inventors Inc. has a January 31 year-end. View transaction list Journal entry worksheet 1 2 3 4 Record issued bond at discount. Note: Enter debits before credits. Date June 01, 2023 General Journal Debit Credit >
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