Assuming the market interest rate on the issue date

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Reference no: EM131202576

On January 1, 2015, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Required: Assuming the market interest rate on the issue date is 7%, the bonds will issue at $600,000. Record the bond issue on January 1, 2015, and the first two interest payments on December 31, 2015, and December 31, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the issuance of the bond.

Record the first interest payment.

Record the second interest payment.

Reference no: EM131202576

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