Case Situation:
All I need is the correct account description name & amount for each part of the question.
Juarez Company issued $400,000 of 9%, 10-year bonds on January 1, 2008, at face value. Interest is payable semiannually on July 1 and January 1.
Instructions: Prepare journal entries to record the following events
1) The issuance of the bonds
2) The payment of interest on July 1, assuming no previous accrual of interest
3) The accrual of interest on December 31
4) The redemption of bonds at maturity, assuming interest for the last interest period has been paid and recorded.