Exercise 14-5 (Algo) Straight-Line: Recording bond issuance and discount amortization LO P2 Paulson Company issues 7 %, four-year bonds, on January 1 of this year, with a par value of $109,000 and semiannual interest payments. Semiannual Period-End (0) January 1, issuance Unamortized Discount $ 6,913 6,049 Carrying Value $ 102,087 102,951 (1) June 30, first payment (2) December 31, second payment 5,185 103,815 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on January 1. (b) The first interest payment on June 30. (c) The second interest payment on December 31. View transaction list Journal entry worksheet 1 2 3 Record the issuance of the bonds on January 1. Note: Enter debits before credits. Date January 011 General Journal Debit Credit