Columbus, Inc., issued $160,000 of 5-year, 10 percent bonds payable on January 1. Columbus, Inc., pays interest each January 1 and July 1 and amortizes any discount or premium by the straight-line method Columbus, Inc., can issue its bonds payable under various conditions: (Click the icon to view the conditions.) Read the requirements Jan 1 Cash Discount on bonds payable Bonds payable 130,000 30,000 160,000 b. Record the payment of semiannual interest when the bonds are issued at a price of $130,000 and the market rate was above 10 percent. (Round to the nearest whole number.) Date Jul 1 Journal Entry Accounts Debit Credit