Example The Clark Company needs to raise capital to fund what has become a very successful business. It decides to issue on January 1, 2017, S200,000 of 10%, 5 year bonds. Interest is payable on July 1 and January 1 of each year. Clark uses the straight line method of amortization for premium or discount. What are the required entries for the: bond January issuance 1nt . July 1 interest payment . Redemption of the bonds Under the following circumstances: x sp December 31 adjusting entry 1. Bonds are issued at face value 2. Bonds are issued at 98 (less than face value) 3. Bonds are issued at 103 (more than face value) 4. Bonds are issued at face value, but between interest payment dates on June 1,2017 5. Bonds are issued at 98 (less than face value) and between interest payment dates, on June 1, 2017 00 100