Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

تمرين 23

Recording Bonds Issued at Face Value
Schlitterbahn Waterslide Company issued 25,000, 10-year, 5 percent, $100 bonds on January 1, 2013, at face value. Interest is payable each December 31. Show the accounting equation effects and prepare journal entries for ( a ) the issuance of these bonds on January 1, 2013, and ( b ) the interest payment on December 31, 2013.