Bonds with Annual Interest Payments Kiwi Corporation issued at par $420,000, 8% bonds on January 1, 2024. Interest is paid annually on December 31. The principal and the final interest payment are due...




Bonds with Annual Interest Payments


Kiwi Corporation issued at par $420,000, 8% bonds on January 1, 2024. Interest is paid annually on December 31. The principal and the final interest payment are due on December 31, 2025.



Required:










1.Prepare the entry to recognize the issuance of the bonds. If an amount box does not require an entry, leave it blank.
























2024 Jan. 1

- Select -- Select -


- Select -- Select -
Record issuance of bonds at par.












2.Prepare the journal entry for December 31, 2024. If an amount box does not require an entry, leave it blank.
























2024 Dec. 31

- Select -- Select -


- Select -- Select -
Record interest expense












3.Prepare the journal entry to record repayment of the principal on December 31, 2025. If an amount box does not require an entry, leave it blank.























2025 Dec. 31

- Select -- Select -


- Select -- Select -
Record repayment of bond principal






Jun 10, 2022
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