Current Attempt in Progress

Sunland Inc. issued $$732,000$ of $20-$year, $9\%$ bonds on January $1,2023,$ at $103.$ Interest is payable semi$-$annually on July $1$ and January

The company follows ASPE and uses the straight$-$line method of amortization for any bond premium or discount.

$($a$)$ Prepare the journal entries to record the following: $($Credit account titles are automatically indented when the amount is entered. Do not

indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List all debit entries before credit

entries. Record journal entries in the order presented in the problem.$)$

The issuance of the bonds

The payment of interest and the related amortization on July $1,2023$

The accrual of interest and the related amortization on December $31,2023$

Date

$\frac{1}{1}\frac{?}{23}$

Account Titles and Explanation

Cash

Bonds Payable

Interest Expense

Bonds Payable

Cash

Interest Expense

Bonds Payable

Credit

$753960$