Columbus issued $70,000 of 10-year, 6% bonds payable on January 1, 2016. Columbus pays interest each January 1 and July 1 and amortizes discount or premium by the straight-line amortization method. The company can issue its bonds payable under various conditions Read the requirements Requirement 1. Journalize Columbus's issuance of the bonds and first semiannual interest payment assuming the bonds were issued at face value. Explanations are not required (Record debits first, then credits Exclude explanations from any journal entries) Journalize the issuance of the bond payable at face value Date 2010 Jan. 1 Accounts Debit Credit Journalize the payment of semiannual interest when the bonds are issued at face value. Date 2016 Jul 1 Accounts Debit Credit