On February 28, 2018 Dolphin Corp. issues 10%, 20 year bonds payable with a face value of $2,100,000. The bonds pay interest on February 28 and August 31 Tho company amortizes bond discount using the straight-line mothod Road the regulats b. Payment of interest and amortization of the bond discount on August 31, 2018 Journal Entry 2018 Accounts Debit Credit Aug 31 Interest Expense Discount on Bonds Payable Cash acquire them ar i Requirements vh net mal of 1. If the market interest rate is 9% when Dolphin Corp. issues its bonds will the bonds be priced at par, at a premium, or at a discount? Explain 2. If the market interest rate is 11% when Dolphin Corp issues its bonds, will the bonds be priced at par, at a premium, or at a discount? Explain 3. Assume that the issue price of the bonds is 94 Journalize the following bonds payable transactions a. Issuance of the bonds on February 28, 2018 b. Payment of interest and amortization of the bond discount on August 31, 2018 c. Accrual of interest and amortization of the bond discount on December 31, 2018 (fiscal year end) d. Payment of interest and amortization of the bond discount on February 28, 2019 4. Report interest payable and bonds payable as they would appear on Dolphin Corp's balance sheet at December 31, 2018 anton nds. tore c. Accrual of interest and amortization of the bond discount on December 31, 2018 (fiscal year-end). Journal Entry 2018 Accounts Debit Dec 31 Interest Expense Discount on Bonds Payable Interest Payable Credit Choose from any list or enter any number in the input fields and then click Check