Ike issues $130,000 of 13%, three-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $133,201. Their market rate is 12% at the issue date.

4. Prepare the journal entries to record the first two interest payments. View transaction list Journal entry worksheet 2 Record the first interest payment on June 30, 2017 Note: Enter debits before credits. Date General Journal Debit Credit Jun 30, 2017 Record entry Clear entry View general journal