A company issues 7%, 9-year bonds with a face amount of $90,000 for $84,301 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31.

Journal entry worksheet Record the bond issue. Note: Enter debits before credits. General Journal Debit Credit Date January 01, 2021 Record entry Clear entry View general journal Journal entry worksheet 2 Record the first interest payment on June 30, 2021. Note: Enter debits before credits. General Journal Debit Credit Date June 30, 2021 Record entry Clear entry View general journal