Homework: Chap... Question 8, E9-19A (sim... HW Score: 7%, 1.75 of 25 points Save Part 1 of 5 Points: 0 of 4 On January 1, 2017 Coleman Corporation issued five-year, 4% bonds payable with a face value of $2.900,000. The bonds were issued at 93 and pay interest on them at a market price of 94 The company's fiscal year ends on December 31 January 1 and July 1 Coleman amortizes bond discounts using the straight-line method On December 31 2019. Coleman retired the bonds early by purchasing Read the requirements Requirement 1. Journalize the issuance of the bonds on January 1, 2017 (Record debits first, then credits. Exclude explanations from any journal entries) Joumal Entry Date Accounts Debit Credit 2017 Jan 12 10 Requirements 1. Journalize the issuance of the bonds on January 1 2017 2. Record the semiannual interest payment and amortization of bond discount on July 1, 2017 3. Record the interest accrual and discount amortization on December 31, 2017 4. Calculate the carrying value of the bonds payable on December 31, 2019, prior to their retirement, 5. Calculate the gain or loss on the retirement of the bonds payable on December 31, 2019. Indicate where this gain or loss will appear in the financial statements