On June 30, Dogwood Limited issues 5%, 20-year bonds payable with a face value of $100,000. The bonds are issued at 94 and pay interest on June 30 and December 31. (Assume bonds payable are amortized using the straight-line amortization method.) Requirements 1. Journalize the issuance of the bonds on June 30. 2. Journalize the semiannual interest payment and amortization of the bond discount on December 31. Requirement 1. Journalize the issuance of the bonds on June 30. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Accounts and Explanation Debit Credit Jun. 30 Cash Discount on Bonds Payable Bonds Payable Issued bonds at a discount. Debit Credit Date Accounts and Explanation Dec. 31 Interest Expense Discount on Bonds Payable Cash Paid semiannual interest and amortized discount