Schlitterbahn Waterslide Company issued 25 000 10 year 5 percent 100
Schlitterbahn Waterslide Company issued 25,000, 10-year, 5 percent, $ 100 bonds on January 1 at face value. Interest is payable each December 31. Show the accounting equation effects and prepare journal entries for
(a) The issuance of these bonds on January 1 and
(b) The first interest payment on December 31.
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