During the year, Shor Company issued several series of bonds. For each bond, record the journal entry that must be made upon the issuance date. (Round to the nearest dollar; a calculator is needed for 2 and 3.)
1. On March 15, a 20-year, $5,000 par value bond series with annual interest of 9 percent was issued. Three thousand of these bonds were issued at a price of 98. Interest is paid semiannually.
2. On January 20, a series of 15-year, $ 1,000 par value bonds with annual interest of 8 percent was issued at a price giving a current yield to maturity of 6.5 percent. Issuance costs for the 7,000 bonds issued were $250,000. Interest is paid annually.
3. On October 31, a 10-year, $ 1,000 par value bond series with annual interest of 7 percent was issued at a price to give a current yield to maturity of 8 percent. Interest on the 5,000 bonds issued is paid semiannually.