Prepare the journal entries to record the following transactions. (Round answers to O decimal places, e.g. 15,250. Credi

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Prepare The Journal Entries To Record The Following Transactions Round Answers To O Decimal Places E G 15 250 Credi 1 (79.63 KiB) Viewed 113 times

Prepare the journal entries to record the following transactions. (Round answers to O decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) The issuance of the bonds on January 1, 2022. (2) Accrual of interest and amortization of the premium on December 31, 2022. (3) The payment of interest on January 1, 2023. (4) Accrual of interest and amortization of the premium on December 31, 2023. Date Account Titles and Explanation Debit Credit Jan. 1, 2022 Cash Premium on Bonds Payable Bonds Payable Dec. 31, 2022 Interest Expense Premium on Bonds Payable Interest Payable Jan. 1, 2023 Interest Payable Cash Dec. 31, 2023 Interest Expense Interest Expense Premium on Bonds Payable Interest Payable