Bonds with Annual Interest Payments Kiwi Corporation issued at par $420,000, 8% bonds on January 1, 2024. Interest is paid annually on December 31. The principal and the final interest payment are due on December 31, 2025. Required: Question Content Area 1. Prepare the entry to recognize the issuance of the bonds. If an amount box does not require an entry, leave it blank. 2024 Jan. 1 Record issuance of bonds at par. Question Content Area 2. Prepare the journal entry for December 31, 2024. If an amount box does not require an entry, leave it blank. 2024 Dec. 31 Record interest expense Question Content Area 3. Prepare the journal entry to record repayment of the principal on December 31, 2025. If an amount box does not require an entry, leave it blank. 2025 Dec. 31 Record repayment of bond principal.

Answer rating: 100% (QA)

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