Pina colada corp. issued 2,100 8%, 9-year, $1,000 bonds dated january 1, 2017, at face value. interest is paid each january 1.

(a) prepare the journal entry to record the sale of these bonds on january 1, 2017. (credit account titles are automatically indented when amount is entered. do not indent manually.)

(b) prepare the adjusting journal entry on december 31, 2017, to record interest expense. (credit account titles are automatically indented when amount is entered. do not indent manually.)

(c) prepare the journal entry on january 1, 2018, to record interest paid. (credit account titles are automatically indented when amount is entered. do not indent manually.)

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The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.