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  3. on january 1,2024 , splash city issues $500,000 of

On January 1,2024 , Splash City issues $500,000 of 9% bonds, due in 20 years,...

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Accounting

image On January 1,2024 , Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the bonds issue for $500,000, record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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