Question 1 On May 1, 2017, Vaughn Industries AG issued CHF157,200,6%, 5-year bonds at face value. The bonds were deted May 1, 2017, and pay interest annually on May 1 Financial statements are prepared annually on December 31. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date May 1, 2017 Prepare the adjusting entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when amount is entered. De not indent manually. Round answers to decimal places, e.g. 125.) Account Titles and Explanation Debit Credit Dec 31, 2017 Date Shaw the statement of financial position presentation on December 31, 2017. (Round answers to o decimal places, ag. 125.) VAUGHN INDUSTRIES AG Statement of Financial Position CHF CHF Prepare the journal entry to record payment of interest on May 1, 2018. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. Round answers to o decimal places, e.g. 125.) Debit Credit Date Account Tities and Explanation May 1, 2018 Assume that on January 1, 2019, Vaughn pays the accrued bond interest and calls the bonds at 104. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to decimal places, ... 125.) Date Account Tides and Explanation Debit Credit Jan 1, 2019 Jan 1, 2019