Coffman Company issued $987,000, 6-year, 8 percent bonds on January 1, 2014. The bonds sold for $751,817. Interest is payable semiannually each June 30 and December 31.

Record the sale of the bonds on January 1, 2014, and the payment of interest on June 30, 2014, using effective-interest amortization. The yield on the bonds is 14 percent. (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 1 2 Record the sale of the bonds on January 1 Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2014 Clear entry Record entry View general journal View transaction list Journal entry worksheet 1 Record the payment of interest on June 30 using effective-interest amortization. Note: Enter debits before credits. Date General Journal Debit Credit June 30, 2014 Record entry Clear entry View general journal