Question: Bonds Issued at Face Value Ito Co , issued the following bonds: Date of issue and sale: April 1 , 2 0 - 1 Principal

Bonds Issued at Face Value
Ito Co, issued the following bonds:
Date of issue and sale: April 1,20-1
Principal amount: ,$300,000
Sale price of bonds: 100
Denomination of bonds: $5,000
Life of bonds:
5 years
Stated rate
6%, payable semiannually on September 30 and March 31
Required:
Prepare journal entries for the transactions below:
a. Issuance of the bonds.
Bonds Issued at Face Value Ito Co, issued the following bonds:

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