(Answered) Meera corporation issued 3580 8 5-year 1000 bonds dated

Accounting

Meera Corporation issued 3,580, 8%, 5-year, $1,000 bonds dated January 1, 2014, at 100.

Prepare the journal entry to record the sale of these bonds on January 1, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1	cash	3580000
Bonds Payable		3580000

(b) Prepare the journal entry to record the first interest payment on July 1, 2014 (interest payable semiannually), assuming no previous accrual of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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