Exercise 10-16A Straight-line amortization for bonds issued at a discount LO 10-4 On January 1, Year 1, Price Co. issued $111,000 of five-year, 8 percent bonds at 98. 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 list Journal entry worksheet 2 3 1 2 Record the entry for issuance of bonds. Note: Enter debits before credits Date General Journal Debit Credit -vuitai City Vinamics > 1 2 3 Record the entry for issuance of bonds. Note: Enter debits before credits. Debit Credit Date General Journal Jan 01 Record entry Clear entry View general journal