On January 1, 2016, Sayers Company issued $282,000 of five-year, 5 percent bonds at 103. Interest is payable semiannually on June 30 and December 31. The premium is amortized using the straight-line method.

Prepare the journal entries to record the bond transactions for 2016 and 2017

Journal entry worksheet

• Record the issue of bonds payable with premium.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jan 01, 2016	Cash

• Record the interest expenses and amortization for bonds payable.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 30, 2016

• Record the interest expenses and amortization for bonds payable.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31, 2016

• Record the interest expenses and amortization for bonds payable.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jun 30, 2017

• Record the interest expenses and amortization for bonds payable.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31, 2017