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ning Objectives 2, 3,4 P14-34A Analyzing and journalizing bond transactions On January 1, 2018, Nurses Credit Union (NCU) issued 8%, 20-year bonds payable with face

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ning Objectives 2, 3,4 P14-34A Analyzing and journalizing bond transactions On January 1, 2018, Nurses Credit Union (NCU) issued 8%, 20-year bonds payable with face value of $600,000. The bonds pay interest on June 30 and December 31 Requirements 3. June 30, 2018, Interest Expense $25,200 I. If the market interest rate is 7% when NCU issues its bonds, will the bonds be 2. If the market interest rate is 9% when NCU issues its bonds, will the bonds be 3. The issue price of the bonds is 92. Journalize the following bond transactions: priced at face value, at a premium, or at a discount? Explain. priced at face value, at a premium, or at a discount? Explain. a. Issuance of the bonds on January 1, 2018. b. Payment of interest and amortization on June 30, 2018. c. Payment of interest and amortization on December 31, 2018. d. Retirement of the bond at maturity on December 31, 2037, assuming the last interest payment has already been recorded. inine ond teansactions

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