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On April 1, 2016, Alpha Company issued $500,000 of 12%, 10-year bonds. The bonds, which were issued at 103, pay interest on Octobér 1 and April 1. Use this information to prepare the General Journal entry (without explanation) to record the April 1, 2016 bond issue. If no entry is required then write No Entry Required. General Journal: Date Accounts Debit Credit
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ENTRY TO RECORD THE BOND ISSUE ON APRIL 1 , 2016

Date

Accounts

Debit

Credit

April 1, 2016

Bank /Cash

$ 515000

   Bonds Payable

$500000

   Premium on Bonds Payable

$ 15000
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