Fireside, Inc. had the following bond issue: 
Required:
Prepare the following general journal entries.
a.
The issuance of the bonds on May 1, 20-A.
b.
The first interest payment for 20-A.
c.
The adjusting entry for December 31, 20-A.
d.
The reversing entry for January 1, 20-B.
Definitions:
Effective Planning
The process of setting goals, developing strategies, and outlining tasks and schedules to achieve the desired outcomes efficiently.
Greater Efficiency
The enhanced effectiveness and productivity with which an organization utilizes its resources, resulting in higher outputs for given inputs.
Competence
The ability and knowledge required to perform a task or job effectively.
Technical Services
Services that involve specialized technical expertise or support, such as IT support, engineering services, or scientific research.
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