The Colson Company issued S$300.000 of 10% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The bonds are issued at face value. Prepare Colson's Journal entry for the July 1 Interest Payment. O Cash $15.000 Interest Expense $15.000 O nterest Expense Cash O nterest Expense Interest Payable O None of the above $15.000 $15.000 $15.000 $15.000

The Colson Company issued S$300.000 of 10% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The bonds are issued at face value. Prepare Colson's Journal entry for the July 1 Interest Payment. O Cash $15.000 Interest Expense $15.000 O nterest Expense Cash O nterest Expense Interest Payable O None of the above $15.000 $15.000 $15.000 $15.000

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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