Exercise 10-12 (Part Level Submission) Assume that the following are independent situations recently reported in the Wall Street Journai 1. General Electric (GE) 7% bonds, maturing January 28, 2018, were issued a 111.70 2. Boeing 7% bonds, maturing September 24, 2032, were issued at 98.85. (a) Your answer is correct. Were GE and Boeing bonds issued at a premium or a discount? discount The General Electric bonds were issued at a premium and the Boeing bonds were issued at a SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR EXERCISE Attempts: 1 of 3 used (c) Your answer is partially correct. Try again Prepare the journal entry to record the issue of each of these two bonds, assuming each company issued $770,000 of bonds in total. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1 cash 770,000 Premium on Bonds Payable 70000