Coffman Company sold bonds with a face value of $1,000,000 for $940,248. The bonds have a coupon rate of 10 percent, mature in 10 years, and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Using a discount account, record the sale of the bonds on January 1 and the payment of interest on June 30 of this year. Coffman uses the effective-interest amortization method. Assume an annual market rate of interest of 11 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 Record the sale of the bonds on January 1. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general Journal 4 Coffman Company sold bonds with a face value of $1,000,000 for $940,248. The bonds have a coupon rate of 10 percent, mature in 10 years, and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Using a discount account, record the sale of the bonds on January 1 and the payment of interest on June 30 of this year. Coffman uses the effective-interest amortization method. Assume an annual market rate of interest of 11 percent. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 10 points Skipped View transaction list eBook Journal entry worksheet Record the payment of interest on June 30 using the effective-interest amortization method. References Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general Journal