Homework: Chapter 12 Score: 0.5 of 1 pt S12-7 (similar to) 4 of 11 (11 complete) Save HW Score: 64.74%, 7.12 of 11 pts Question Help Oakley Company issued a $50,000, 10%, 10-year bond payable at 90 on January 1, 2018. Interest is paid semiannually on January 1 and July 1. Read the requirements Requirement 1. Joumalize the issuance of the bond payable on January 1, 2018 (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Accounts and Explanation Debit Credit 2018 Jan. 1 Cash Discount on Bonds Payable Bonds Payable Issued bonds at a discount 45,000 5,000 50,000 Requirement 2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2018. (Assume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry Round your answers to the nearest whole dollar) Date 2018 Jul 1 Accounts and Explanation Requirements Debit Credit - X 1. Journalize the issuance of the bond payable on January 1, 2018 2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2018 Ch All parts showing Print Done Check Answer *