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Colson Corporation issues bonds to finance an expansion of its hot swimwear line. The $50,000...

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Accounting

Colson Corporation issues bonds to finance an expansion of its hot swimwear line. The $50,000 in bonds is issued on April 1, 20X4 and pay interest in the amount of 5 percent annually. Interest payments are made semiannually, every April1 and October1. Record the journal entry necessary for each of the following:

a.The issuance of the bonds

b.The payment of interest on October 1, 20X4

c.The interest accrual on December 31, 20X4

d.The payment of interest on April 1, 20X4

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