Skysong Corporation issued $610,000 of 9% bonds on November 1, 2025, for $651,453. The bonds were...

  

Transcribed Image Text:

Skysong Corporation issued $610,000 of 9% bonds on November 1, 2025, for $651,453. The bonds were dated November 1, 2025, and mature in 10 years, with interest payable each May 1 and November 1. Skysong uses the effective-interest method with an effective rate of 8%. Prepare Skysong's December 31, 2025, adjusting entry. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date December 31, 2025 Account Titles and Explanation Debit Credit Skysong Corporation issued $610,000 of 9% bonds on November 1, 2025, for $651,453. The bonds were dated November 1, 2025, and mature in 10 years, with interest payable each May 1 and November 1. Skysong uses the effective-interest method with an effective rate of 8%. Prepare Skysong's December 31, 2025, adjusting entry. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date December 31, 2025 Account Titles and Explanation Debit Credit