Question: View Policies Current Attempt in Progress On October 1, 2021, Swifty Corp. issued $720,000,6%, 10-year bonds at face value. The bonds were dated October 1,

October 1, 2021, and pay interest annually on October 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) Date Account Titles and Explanation

View Policies Current Attempt in Progress On October 1, 2021, Swifty Corp. issued $720,000,6%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 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) Date Account Titles and Explanation Debit Credit Oct. 1 2021 Cash 720.000 Bonds Payable 720,000 e Textbook and Media List of Accounts Question 11 of 12 -12 --/0.33 Question Part Score Prepare the adjusting entry to record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit Dec 31, 2021 e Textbook and Media List of Accounts Question Part Score 0.33 Question Part Score Show the balance sheet presentation of bonds payable and bond interest payable on December 31, 2021. SWIFTY CORP. Balance Sheet (Partial) e Textbook and Media Prepare the journal entry to record the payment of interest on October 1, 2022 (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Debit Credit Account Titles and Explanation Oct. 1. 2022 e Textbook and Media List of Accounts Question Part Score --/0.33 Prepare the adjusting entry to record the accrual of interest on December 31, 2022. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31. 2022 e Textbook and Media List of Accounts Question Part Score --/0.34 Assume that on January 1, 2023, Swifty pays the accrued bond interest and calls the bonds. The call price is 105. Record the payment of Interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit Jan 1 2023 (To record payment of interest) Jan 1 2023 To record the redemption of the bonds e Textbook and Media

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