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Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued

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Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,591,194. Required: 1. Prepare the January 1,2015, journal entry to record the bonds' issuance. view transaction list view general journal Date General Journal Debit Credit Jan 01, 2015 Cash 1,591,194 Bonds payable Premium on bonds payable 1,300,000 291,194

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