(c) Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 1, 2023 Account Titles and Explanation Debit Credit

(c) Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Jan. 1, 2023 Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

On January 1, 2022, Oriole Company issued $430,000, 8%, 10-year bonds at face value. Interest is payable annually on January 1.
(a)

Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
Date
Jan. 1,
2023
Account Titles and Explanation
Debit
Credit

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