Events and experiences maybe?
In what terms, there's the words fastest land animal the cheetah and then there's airborne animal the peregrine falcon...sooo...? y'all feel me?
The journal entry to record interest on June 30, 2021 is: Debit Interest expense $8million; Credit Cash $8 million.
<h3>Journal entries</h3>
Rapid airlines Journal entries
1. June 30, 2021
Debit Interest expense $8million
Credit Cash $8 million
[($200 million ×8%) ×6/12]
2. Dec 31, 2021
Debit Interest expense $8 million
Credit Cash 8 million
[($200 million ×8%) ×6/12]
3. Dec 31, 2021
Debit Bonds Payable $12million
Credit Adjustment in fair value $12 million
($200 million - $188 million)
Inconclusion the journal entry to record interest on June 30, 2021 is: Debit Interest expense $8million; Credit Cash $8 million.
Learn more about journal entries here:brainly.com/question/14279491
