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IPA 9-7 Advance Company issued $600,000, 10%, 20-year bonds on January 1, 2010, at 104. Interest is payable semiannually on July 1 and January 1.

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IPA 9-7 Advance Company issued $600,000, 10%, 20-year bonds on January 1, 2010, at 104. Interest is payable semiannually on July 1 and January 1. Advance uses the straight-line method of amortization and has a calendar year end. Requirements Prepare all journal eitries made in 2010 related to the bond issue. Show all supporting calculations

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