Instructions Prepare the journal entries necessary to record issue of the new bonds and th nds and the refunding of the bonds. E14-14 (L01,2) (Entries for Redemption and Issuance of Bonds) On Jun with a par value of $800,000 due in 20 years. They were issued at 98 and we Because of lower interest rates and a significant change in the company's credit June 30, 2018, and to issue new bonds. New 10% bonds were sold in the amount County Company uses straight-line amortization. Interest payment dates are Decen Instructions (a) Prepare journal entries to record the redemption of the old issue and the sale of (b) Prepare the entry required on December 31, 2018, to record the payment of tion of premium on the bonds. June 30, 2009. County Company issued 12% bonds ere callable at 104 at any date after June 30, 2017 dit rating, it was decided to call the entire issue on amount of $1.000.000 at 102: they mature in 20 years it dates are December 31 and June 30. the sale of the new issue on June 30, 2018 to record the payment of the first 6 months' interest and the amortiza