9 On 12:81:16, ABC issued 10,000 shares of $1 par value common stock at the closing market price of $8 per share. Prepare ABC's journal entry to reect the issuance of the stock on 12131.06. To refresh your memory, a Paid-in Capital in Excess of Par account should be used to account for excess proceeds over par value in a stock issuance transaction. [See your Principles ofAccounng textbook or Chapter 18 of your Intermediate Accounting textbook for a review.) 1 0 On mu 6, ABC sold 10% bonds having a maturity value of $700,000 for $755,773.50, resulting in an effective yield of 8%. The bonds are dated Tflfl, and mature 'Nll. Interest is payable semiannually on July 1 andJanuary 1. ABC uses the effective interest method of amortization for bond premium or discount. Record the adjusting entry for the accrual of interest and the related amortization on 1281.115. Hint: Develop an abbreviated amortization schedule to accurately determine the interest expense