please show all work, thank you! On August 1, 2022, Blue Spruce Corp. issued...
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On August 1, 2022, Blue Spruce Corp. issued $507,600,6%, 10-year bonds at face value. Interest is payable annually on August 1. Blue Spruce's year-end is December 31. On August 1, 2022, Blue Spruce Corp. issued $507,600, 6%, 10-year bonds at face value. Interest is payable annually on August 1. Blue Spruce's year-end is December 31. Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 1 Cash 507600 Bonds Payable 507600 Prepare the journal entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense 30456 Interest Payable 30456 Prepare the journal entry to record the payment of interest on August 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Aug. 1 Cash 507600 Bonds Payable 4477144 Interest Payable 30456
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