On January 1 2016 Focus Corporation issued $500000 6% 5-year bonds at face value. Interest is payable annually on January 1.
Instructions
Prepare journal entries to record the
(a) Issuance of the bonds.
(b) Accrual of interest on December 31.
(c) Payment of interest on January 1 2017.

Question

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The Answer of On January 1 2016 Focus Corporation issued $500000 6% 5-year bonds at face value. Interest is payable annually on January 1.
Instructions
Prepare journal entries to record the
(a) Issuance of the bonds.
(b) Accrual of interest on December 31.
(c) Payment of interest on January 1 2017.

On January 1 2016 Focus Corporation Issued $500000 6% 5-Year