Acc291 Principles of Accounting: E10-11 On January 1, Flory Company issued $300,000

Acc291 Principles of Accounting

E10-11
On January 1, Flory Company issued $300,000, 8%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1.
Prepare journal entries to record the following events.
a. The issuance of bonds.
b. The payment of interest on July 1, assuming no previous accrual of interest.
c. The accrual of interest on December 31.
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