Imai Company issued a $1.285 million bond that matures in five years. The bond has a 7 percent coupon rate. When the bond was issued, the market rate was 4 percent. The bond pays interest twice per year, on June 30 and December 31. Use Table 9C.1, Table 9C.2.

Required:

Record the issuance of the bond on June 30. (Round time value factor to 4 decimal places. Enter your answers in dollars not in millions. Round intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Imai Company issued a $1.285 million bond that matures in five years. The bond has a 7 percent coupon rate. When the bond was issued, the market rate was 4 percent. The bond pays interest twice per year, on June 30 and December 31. Use Table 9C.1, Table 9C.2. Required Record the issuance of the bond on June 30. (Round time value factor to 4 decimal places. Enter your answers in dollars not in millions. Round intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of bond on June 30th. Note: Enter debits before credits. Date General Journal Debit Credit Jun 30 No journal entry required Bond payable Bond premium Cash Income tax expense Record View general journal evenue