PENERVION NO JURCES ent Exercise 10-14 Tarawa Limited issued $1,380,000 of 10-year, 5% bonds on...
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PENERVION NO JURCES ent Exercise 10-14 Tarawa Limited issued $1,380,000 of 10-year, 5% bonds on January 1, 2018, when the market interest rate was 6%. Tarawa received $1,277,351 when the bonds were issued. Interest is payable semi-annually on July 1 and January 1. Tarawa has a December 31 year end. Record the issue of the bonds on January 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manual) A(Part Debit Credit Date Account Titles and Explanation Jan. 1 Cash A Part 1277351 1277351 Bonds Payable Its by Study SHOW LIST OF ACCOUNTS LINK TO TEXT Record the payment of Interest on July 1. (Round answers to decimal places... 5.275. Credit accountries are automatically indeed them entered. Do not Indent manually.) Debat Credit Date Account Titles and Explanation July 1 Interest Expense
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