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E 10-11 Riot Company issued $500,000, 15-year, 7% bonds at 96. Instructions (a) Prepare the journal entry to record the sale of these bonds on

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E 10-11 Riot Company issued $500,000, 15-year, 7% bonds at 96. Instructions (a) Prepare the journal entry to record the sale of these bonds on January 1, 2014 (b) Suppose the remaining Discount on Bonds Payable was $12,000 on December 3 2019. Show the balance sheet presentation on this date (c) Explain why the bonds sold at a price below the face amount

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