Golden Inc. issues $5,000,000, 5-year, 12% bonds at 104, with interest payable annually on January 1. The straight-line method is used to amortize bond premium.

Prepare the journal entry to record the sale of these bonds on January 1, 2017

(b) Prepare the adjusting journal entry to record interest expense and bond discount amortization on December 31, 2017

Also, I am super confused on the particulars on this question. If you could please hlep with this also you would be awesome! :)

Brief Exercise 15-12 (Part Level Submission) Golden Inc. issues $5,000,000, 5-year, 12% bonds at 104, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. (a) Your answer is partially correct. Try again Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 Tcash Debit Credit Discount on Bonds Payabl Bonds Payable SHOW LIST OF ACCOUNTS LINK TO TEXT Attempts: 1 of 3 used