2. Prepare the journal entries related for the above transactions. (If no entry

Question

2. Prepare the journal entries related for the above transactions. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Schlitterbahn Waterslide Company issued 25,000, 10-year, 5 percent, $100 bonds on January 1 at face value. Interest is payable each December 31 on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Dec 31 Interest expense (25000*100*5%) 125000      Cash 125000 (To record interest payment)

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