On January 1, Potter Company issued $600,000, 6%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Journalize the entries to record:
1. the issuance of the bonds.
2. payment of interest on July 1.
3. accrual of interest on December 31.

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The Answer of On January 1, Potter Company issued $600,000, 6%, 5-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Journalize the entries to record:
1. the issuance of the bonds.
2. payment of interest on July 1.
3. accrual of interest on December 31.

On January 1, Potter Company Issued $600,000, 6%, 5-Year Bonds