Bonds Payable Issued Between
Interest Dates
Illustrative Entries
| 6-1-X1 |
102,000 |
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| Interest Payable |
2,000 |
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| Bonds Payable |
100,000 |
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| To record issuance of 100, 12% bonds | ||||
| 9-30-X1 |
4,000 |
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| Interest Payable |
2,000 |
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| Cash |
6,000 |
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| To record interest payment (includes return of accrued interest payable from original issue on June 1) |