The Board of Directors of the Costmore Corporation Authorized the Issuance

The board of directors of the Costmore Corporation authorized the issuance of $1,200,000 face value of 5-year, 8 percent bonds dated March 1, 2013, and maturing on March 1, 2015. Interest is payable semiannually on September 1 and March 1. Record the following bond transactions on page 6 of a general journal. Omit descriptions. 2013
March 1 Issued $\$ 500,000$ of bonds at face value
Sept. 1 Paid the semiannual interest on the bonds issued
Dec. 31 Recorded the adjusting entry for the accrued bond interest
31 Closed the Bond Interest Expense account into the Income Summary account
2014
Jan. 1 Reversed the adjusting entry for accrued bond interest
March 1 Paid the semiannual interest on the bonds issued
1 Issued $\$ 700,000$ of bonds at face value
Sept. 1 Paid the semiannual interest on the bonds issued
Dec. 31 Recorded the adjusting entry for the accrued bond interest
31 Closed the Bond Interest Expense account into the Income Summary account