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E-Tech Initiatives Limited plans to issue $600,000, 10-year, 3 percent bonds. Interest is payable annually on December 31. All of the bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheet if they are issued at 96. (Deductions should be indicated by a minus sign.) E-TECH INITIATIVES LIMITED Balance Sheet (partial) As of January 2, 2019 Carrying Value $ 0 Simko Company issued $710,000, 5-year, 5 percent bonds on January 1, 2018. The bonds were issued for $635,000. Interest is payable annually on December 31. Using straight-line amortization, prepare journal entries to record (a) the bond issuance on January 1, 2018, and (b) the payment of interest on December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of bonds with a face value of $710,000 for $635,000. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2018 Record entry Clear entry View general journal