Journal entry worksheet

On January $1$ Stronger Industries issued $$480,000$ of $9\%,$ five$-$year bonds that

pay interest semiannually on June $30$ and December $31.$ They are issued at

$$499,483$ and their market rate is $8\%$ at the issue date. After recording the

entry for the issuance of the bonds, Bonds Payable had a balance of $$480,000$

Note: Enter debits before credits.