Devers Corporation issued $400,000 of 6% bonds on May 1, 2020. The bonds were dated January 1, 2020, and mature January 1, 2023, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare Devers's journal entries for a. the May 1 issuance. b. the July 1 interest payment. c. the December 31 adjusting entry.
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