The Oriole Company issued $640,000 of 6% bonds on January 1, 2017. The bonds are due January 1, 2027, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Oriole's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (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 0 for the amounts.)

The Oriole Company issued $640,000 of 6% bonds on January 1, 2017. The bonds are due January 1, 2027, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Oriole's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (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 0 for the amounts.)

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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