the journal entries for Doyle company, and T charts issued $261,000 of 10-year, 6% bonds on january
the journal entries for Doyle company, and T charts
issued $261,000 of 10-year, 6% bonds on january 1, year 1. issued at face value interest is payable in cash dec 31, of each year doyle immediately invested the proceeds from the bond issue in land. the land was leased fir an annual $69,500 of cash revenue, which was collected on dec 31 of each hear beginning dec 31, year 1.
ive included the journal to the point ive completed
possible entry titles are: no journal entry required binds payable cash discount on bonds payable gain on bond redemption interest expense land lease revnue line of credit payable loss on bond redemption premium on bonds payable rent revenue retained earnings service revenue
Required information The following information Journal entry worksheet < the quest e d below! 6 7 8 Record the interest expenses for bonds payable Doyle Companied 5261000 of yesto percent bonds on January to the bonde d tece vie er Decentesch Da y in the proceeds from the land. The land was lessed for an annual 569 500 och event which was collected on December of each yea beginning December 31 Yeart a. Prepare te jumaltes for Wansaction even select No j e ver and on them to T-accounts for u red in the accounted) and 2 of neem is required for a m Dec 31 Prev 1 2 of 3 в е во таа Next > Journal entry worksheet Journal entry worksheet < 0 0 < 0 0 0 0 58. ; Record the receipt of s even Record the entry to close revenue and expense accounts Pre 12 of 3 !! Next > Prev 1 2 3 Next > transaction event, select “No journal entry required in the first account field.) Journal entry worksheet No General Journal Date Jan 01 Credit Debit 261,000 Cash Bonds payable 261,000 Jan 01 Land 261,000 Cash 261,000 3 Dec 31 Cash 69,500 Lease revenue 69,500 Dec 31 Interest expense Cash Dec 31 No Transaction Recorded Cash Land of 2 End Bal Year 2 Retained Earnings Year 1 End Bal Bonds Payable End. Bal Year 1 Year 2 End. Bal Lease Revenue Interest Expense Year 1 Year 1 End Bal Year 2 End End Bal