Use the following information for all questions related to Gloria's Glorious Morning Muffins:

Gloria's Glorious Morning Muffins issued a $10,000 bond exactly a year ago. The bond is a three-year bond that pays interest every six months. The issue price of the bond was $10,983.46. Interest expense for the first six months was $659.01.

Today's cash interest payment (the second one Gloria has made) was $800. Interest expense recorded for the second six months was $650.55.

Show the journal entry Gloria will make to record the mentioned interest payment. Some of the information has been filled in to help you. Round your answers to the nearest two decimal places.

Dr. Interest Expense

Dr.

Cr.

Answer rating: 100% (QA)

To record the cash interest payment of 800 for Glorias Glorious Morning Muffins th... View the full answer