Try another version of this question On June 30, IronZee Company issues 9%, 10-year bond payable with a face value of $30,600. The bonds are issued at face value and pay interest on June 30 and December 31. Journalize the issuance of the bond on June 30th and the first interest payment of December 31st.
Date Description Debit Credit June 30 June 30 December 31 December 31 Date Description Debit Credit June 30 Cash 30,600 June 30 Bonds Payable 30,600 December 31 Interest Expense 1,377 December 31 Cash 1,377