On January 1 Kreitzer Company issued $324,300, 9%, 10-year bonds at face value. Interest is payable annually on January 1. Prepare journal entries to...

On January 1 Kreitzer Company issued $324,300, 9%, 10-year bonds at face value. Interest is payable annually on January 1.Prepare journal entries to record the following events.(a)The issuance of the bonds.DateAccount/DescriptionDebitCreditJan. 1Cash 300,000 Bonds payable 300,000(b)The accrual of interest on December 31.DateAccount/DescriptionDebitCreditDec. 31Bond interest expense 21,000 Bond interest payable 21,000(c)The payment of interest on January 1.DateAccount/DescriptionDebitCreditJan. 1