Answer Happy

1 On January 1, 2020, Marigold Company issued $180.000 of 7%, 10-year bonds at par Interest is payable quarterly on April 1 July 1, October 1, and January 1 2 On June 1, 2020, Swifty Company issued $132.000 of 12% 10-year bonds dated January 1 at par plus accrued interest Interest is payable semiannually on July 1 and January 1 For each of these two independent situations, prepare journal entries to record the following Of no entry is required, select "No Entry for the account tides and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent (a) The issuance of the bonds (6) The payment of interest on July 1 (c) The accrual of interest on December 31. Date Debit Credit 1/1/20 7/1/20 12/31/20 Account Titles and Explanation Marigold Compan Cach Bons Payable Interest Expe Interest Payabl Interest Expe Interest Payable Swifty Compan eTextbook and Media List of Accounts Lat saved 3 minutes ap take up to 10 mindes submitted on the due date Aut 10000 Attempts: 2 of 4 used