On the first day of the fiscal year, Rainbow Company issues a $831098, 9%, 5-year bond that pays semiannual interest for a cash price of 95% of the face value of the bond. What is the discount amount of the bond issue? Write the journal entry for issuing the bonds. Then write the journal entries for the first two interest payments. What is the balance of the discount on bonds payable account at the end of year 1? What is the carrying value of the Bonds Payable?

Ch 118 On the first day of the fiscal year. Rainbow Company issues a $831098,9%,5-year bond that pays semiannual interest for a cash price of 95% of the face value of the bond. What is the discount amount of the bond issue? Ch 11B1 Referring to the previous question, write the journal entry for issuing the bonds. Ch 11B2 Referring to Ch 11 - B. write the journal entries for the first two interest payments. Ch 11B3 Referring to Ch 11 - B. what is the balance of the Discount on Bonds Payable account at the end of year 1 ? What is the carrying value of the Bonds Payable