Exercise 10-16A Straight-line amortization for bonds issued at a discount LO 10-4 On January 1, Year 1, Price Co. issued $190,000 of five-year, 6 percent bonds at 96 7. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction in Journal entry worksheet 1 2 3 > Record the entry for Issuance of bonds, Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Record entry Clear entry View general Journal ebook View transaction list ASK Journal entry worksheet Print 3 o References Record the entry for recognizing interest expense on Dec. 31, Year 1. Note Enter debits before credits General Journal Date Dec 31 Dobit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet Prim 1 2 References Record the entry for recognizing interest expense on Dec. 31. Year 2 Noter Citer debits before credits Date Generis Journal Debit Credit Dec 31 Record entry CY View generator