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What is the journal entry to record first interest payment

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Q1. Medhurst Corporation issued $89,000 in bonds for $86,300. The bonds had a stated rate of 8% and pay interest quarterly. What is the journal entry to record the first interest payment? If an amount box does not require an entry, leave it blank.

Q2. Medhurst Corporation issued $86,700 in bonds for $84,000. The bonds had a stated rate of 6% and pay interest quarterly. What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank.

Reference no: EM132711269

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