1. Record the issuance of the bond on February 1, 2018

2. Record the interest on July 31, 2018 (at the effective rate

3. Record the accrued interest on December 31, 2018.

4. Record the interest on January 31, 2019.

Exercise 14-11 Bonds; effective interest; adjusting entry [LO14-2] On February 1, 2018, Strauss-Lombardi issued 8% bonds, dated February 1, with a face amount of $630,000. The bonds sold for $572,036 and mature on January 31, 2038 (20 years). The market yield for bonds of similar risk and maturity was 9%. Interest is paid semiannually on July 31 and January 31. Strauss-Lombardi's fiscal year ends December 31. Required: 1. to 4. Prepare the journal entry to record their issuance by Strauss-Lombardi on February 1, 2018, interest on July 31, 2018 (at the effective rate), adjusting entry to accrue interest on December 31, 2018 and interest on January 31, 2019. (Do not round your intermediate calculations and round your final answers to nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) X Answer is not complete. No Credit Debit 572,036 Date General Journal February 01, 2018 Cash Discount on bonds payable Bonds payable 57,964 630,000 July 31, 2018 51,438 X Interest expense Discount on bonds payable Cash 1,083 % 50,400 X 42,984 X December 31, 201 Interest expense Discount on bonds payable Interest payable 984 x 42,000 January 31, 2019 Interest expense Interest payable 8,597 X 42,000 X