E10-14 Part 1 and 2 Required 1.&2. Complete the required journal entries to reco

ID: 2569434 • Letter: E

Question

E10-14 Part 1 and 2 Required 1.&2. Complete the required journal entries to record the bond issuance and the first interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.) View transaction list Record the issuance of bonds for $226,626 with a face value of $260,000. 1 2 Record the interest payment on December 31. Credit Note :·journal entry has been entered Record entry Clear entry View general journal

Explanation / Answer

Date

General Journal

Debit

Credit

December 31

Cash

$ 226,626

Discount on issue of bonds

$ 33,374

Bonds payable

$ 260,000

(To record the issuance of bonds at discount)