E10-14 (Supplement 10A) Recording the Effects of a Discount Bond Issue and First Interest Payment and Preparing a Discount Amortization Schedule (Straight-Line Amortization) [LO 10-S1] [The following information applies to the questions displayed below.] On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $290,000, 9 percent bond issue for $272,169. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method. References Section Break E10-14 (Supplement 10A) Recording the Effects of a Discount Bond Issue and First Interest Payment and Preparing a Discount Amortization Schedule (Straight-Line Amortization) [LO 10-S1] E10-14 Part 1 and 2 Required: 1.&2. Complete the required journal entries to record the bond issuance and the first interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Round your answers to the nearest whole dollar.) View transaction list Journal entry worksheet 12 Record the issuance of bonds for $272,169 with a face value of $290,000. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry Clear entry View general journal IU.UU points E10-14 Part 3 3. Prepare a bond discount amortization schedule for these bonds. (Do not round intermediate calculations. Round your answers to the nearest dollar.) Ending Bond Liability Balances Period Ended Changes During the Period Discount Cash Paid Interest Amortized Expense Bonda Poshie Bonds Payable Bonds Payable Discount on Carin Volu Carrying Value Start Yr 1 End Yr 2 End Yr 3 End Yr 4 End Yr 5 End Yr 6 End Yr 7 End Yr 8 End Yr 9 End Yr 10 End L U Hints References eBook & Resources Hint #1