Question: On January 1, Camel Cove Company issued $500,000, 10%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Instructions

On January 1, Camel Cove Company issued $500,000, 10%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1.
Instructions
Present journal entries to record the following.
(a) The issuance of the bonds.
(b) The payment of interest on July 1, assuming that interest was not accrued on June 30.
(c) The accrual of interest on December 31.

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