Issuing bonds at a discount Instructions Chart of Accounts Journal Instructions On the first day of the fiscal year, a company issues a $1,550,000, 12%, five year bond that pays semiannual interest of $93,000 (51,550,000 * 12% *%), receiving cash of $1,503,140 Journalire the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titles 1 Instructions Chart of Accounts Journal Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account bitles JOURNAL ACCOUNTING EQUATIC DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES 1 2 Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 611 Gain on Redemption of Bonds 111 Petty Cash 121 Accounts Receivable 122 Allowance for Doubtful Accounts 126 Interest Receivable EXPENSES 127 Notes Receivable 510 Cost of Merchandise Sold Instructions Chart of Accounts ILU TELLULILULIIDIC 127 Notes Receivable 510 Cost of Merchandise Sold 515 Credit Card Expense 131 Merchandise Inventory 141 Office Supplies 516 Cash Short and Over 191 Land 522 Office Salaries Expense 531 Advertising Expense 194 Office Equipment 195 Accumulated Depreciation Office Equipment 532 Delivery Expense 533 Repairs Expense 535 Rent Expense LIABILITIES 210 Accounts Payable 221 Salaries Payable 536 Insurance Expense 537 Office Supplies Expense 231 Sales Tax Payable 541 Bad Debt Expense Instructions Chart of Accounts Journal nstructions Chart of Accounts 232 Interest Payable 562 Depreciation Expense-Office Equipment 241 Notes Payable 251 Bonds Payable 590 Miscellaneous Expense 710 Interest Expense 252 Discount on Bonds Payable 711 Loss on Redemption of Bonds 253 Premium on Bonds Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock