Instruction Chart of Accounts General Journal Instruction On the first day of the fiscal year, a company issues an $946,000,8%, 5-year bond that pays semiannual interest of $37,840 ($946,000 * 8% *1/2). receiving cash of $889.240 Required: Journalize the entry to record the first interest payment and the amortization of the related and discount using the straight line method Rete to the Chart of Accounts for exact wording of account dides. Instruction Chart of Accounts General Journal Instruction Chart of Accounts REVENUE ASSETS 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 611 Gain on Redemption of Bonds 112 Accounts Receivable 113 Allowance for Doubtful Accounts 114 Notes Receivable EXPENSES 115 Interest Receivable 121 Inventory 122 Supplies 131 Prepaid Insurance 140 Land 510 Cost of Goods Sold 511 Bad Debt Expense 512 Credit Card Expense 513 Cash Short and Over 521 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense 534 Rent Expense 151 Building 152 Accumulated Depreciation-Building 153 Equipment 154 Accumulated Depreciation-Equipment Instruction Chart of Accounts General Journal Instruction Chart of Accounts ece 152 Accumulated Depreciation-Building 153 Equipment 154 Accumulated Depreciation-Equipment LIABILITIES 532 Delivery Expense 533 Repairs Expense 534 Rent Expense 535 Insurance Expense 536 Supplies Expense 551 Depreciation Expense-Building 552 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense 711 Loss on Redemption of Bonds 210 Accounts Payable 221 Salaries Payable 231 Sales Tax Payable 241 Notes Payable 242 Interest Payable 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payable EQUITY 310 Common Stock gnment/takeAssignment Main.do?invoker=&takeAssignmentSession Locator=assignment-take&inprogress=false Instruction Chart of Accounts General Journal Instruction Chart of Accounts LIABILITIES 210 Accounts Payable 221 Salaries Payable 231 Sales Tax Payable 536 Supplies Expense 551 Depreciation Expense-Building 552 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense 241 Notes Payable 242 Interest Payable 711 Loss on Redemption of Bonds 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Instruction Chart of Accounts General Journal Instruction General Journal Joumalize the entry to record the first interest payment and the amortization of the related bond discount using the straight line method on December 31. Refer to the Chart of Accounts for exact wording of account des ACCOUNTING EQUATION DESCRIPTION ASETS UTIES EQUITY