👤
Answered

etextbook and media list of accounts prepare the journal entry to record the accrual of interest on december 31, 2022. (credit account titles are automatically indented when amount is entered. do not indent manually) date account titles and explanation debit credit dec. 31 etextbook and media list of accounts prepare the journal entry to record the payment of interest on august 1, 2023. (credit account titles are automatically indented when amount is entered. do not indent manually) date account titles and explanation debit credit aug. 1 etextbook and media\

Answer :

QWpurplego

Date Account Title and Description Debit  Credit

Dec 31,

2022,      Interest Expense A/c        9600  

                 To Interest Outstanding A/c            9600

                      (240000 x 4% )    

 (Being the year's recorded interest on bonds)  

January 01,

2023        Interest Outstanding A/c  9600  

                     To Interest Payable A/c             9600

       (Being Bonds with documented Bond Interest)  

An investment representing a debt from a lender to a borrower is called a bond. A bond can be compared to an agreement outlining the terms of the loan and the associated payments between the lender and borrower.

The interest rate that will be paid by the bond issuer on the bond's face value is known as the coupon rate and is expressed as a percentage.

To know more about Coupon Rate, refer to this link:

https://brainly.com/question/16913107

#SPJ4

Go Teaching: Other Questions