During 1 two consecutive years, Martino, Inc., completed the following transactions:

Instructions Check Figure T, j , . . , . 1 r Year 2 adjustment debit, $2,000 Record the transactions m general journal form. ’

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Year 1 Jan. 2 Issued $1,000,000 face value 20-year, 7 percent bonds, dated Jan- June 30 Dec. 31 31 31 Year 2 uary 1 of this year, at 96. Interest is payable semiannually on June 30 and December 31. Paid semiannual interest on bonds. Paid semiannual interest on bonds. Recorded adjusting entry for amortization of discount on bonds. Closed Interest Expense account. June 30 Paid semiannual interest on bonds. Dec. 31 Paid semiannual interest on bonds. 31 Recorded adjusting entry for amortization of discount on bonds. 31 Closed Interest Expense account.