Answer:
May 1, 2020
Dr Cash $477,360
Cr Bonds Payable $468,000
Cr Interest Expense $9,360
July 1, 2020
Dr Interest Expense $14,040
Cr Cash $14,040
Dec 31, 2020
Dr Interest Expense $14,040
Cr Interest Payable $14,040
Explanation:
May 1, 2020
Dr Cash $477,360
Cr Bonds Payable $468,000
Cr Interest Expense $9,360
(Accrued Interest = 468,000 x 6% x 4/12)
July 1, 2020
Dr Interest Expense $14,040
Cr Cash $14,040
(Bond interest expense = $468,000 x 6% x 6/12)
Dec 31, 2020
Dr Interest Expense $14,040
Cr Interest Payable $14,040
