Current Attempt in Progress

Presented below are two independent situations.

On January $1,2020,$ Marin Company issued $$192,000$ of $7\%,10-$year bonds at par. Interest is payable quarterly on April $1,$

July $1,$ October $1,$ and January $1.$

On June $1,2020,$ Headland Company issued $$144,000$ of $10\%,10-$year bonds dated January $1$ at par plus accrued interest.

Interest is payable semiannually on July $1$ and January $1.$

For each of these two independent situations, prepare journal entries to record the following. $($If no entry is required, select $"$No Entry" for

the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent

manually.$)$

$($a$)$ The issuance of the bonds.

$($b$)$ The payment of interest on July $1.$

$($c$)$ The accrual of interest on December $31.$

Date

Account Titles and Explanation

Debit

Credit

Marin Company: