On January 1, 2017 Exide, Inc. issued S650,000 in bonds paying 5% interest semiannually for 10 years. The market rate of interest when sold was 6%. How would you journalize the proceeds from the sale/issuance of value of money tables to determine the cash received: these bonds? Use time Cash Discount on Bonds Payable Bonds Payable Record the July 1, 2017 payment using the effective rate of interest Interest Expense Discount on Bonds Payable Cash Record the Dec 31, 2017 payment using the effective rate of interest Interest Expense Discount on Bonds Payable Interest Payable What would the 2017 amortization be under the straight-line method? on July 1, 2017 Lear Corp. purchased a building for $760,000 and was approved by BB&T Bank for a 35% loan for 15 years. The land was included in the price at $160,000 and there was a $60,000 down payment 1) Journalize the entry for purchase: Building Land Cash Mortgage Payable 2) Using an Excel template, journalize the first month's payment separating the principal from the interest expense: Mortgage Payable Interest Expense Cash 3) Record the first month's depreciation using the straight-line method assuming a 30 year life with no salvage value: Depreciation Expense Accumulated Depreciation