Instructions On October 1, 2016, Ball Company issued 10% bond 31 and September 30. The proceeds from the bond e d October 1, 2016, with a face amount of $380,000. The bonds mature in 10 years. Interest is paid semiannually on March i nce were $384.776.05 to yield 9.80%. Ball Company has a December 31 fiscal year-end and does not use reversing entries Required: 1. Prepare journal entries to record the issuance of the bonds and the interest payments for 2016 and 2017 using the effective interest method 2. Prepare journal entries to record the issuance of the bonds and the interest payments for 2016 and 2017 using the straighting method Previous Next > Email Instructor Submit Test for Grading All work saved. MacBook Air Uhr unwiy J ESIUILD tofaunprogress-false alculator Effective Interest versus Straight-Line Premium Amortization Instructions Chart of Accounts General Journal Instructions On October 1, 2016, Ball Company issued 10% bonds dated October 1, 2016, with a face amount of $380,000. The bonds mature in 10 years. Interest is paid semiannually on March 31 and September 30. The proceeds from the bond issuance were $384,776,05 to yield 9.80%. Ball Company has a December 31 fiscal year-end and does not use reversing entries. Required: 1. Prepare journal entries to record the issuance of the bonds and the interest payments for 2016 and 2017 using the effective interest method. 2. Prepare journal entries to record the issuance the bonds and the interest payments for 2016 and 2017 using the straight-line method Previous Next