p9.69a. Objective: Accounting for bonds payable at a discount;amoratize by straight-line method.

Requirements I. Journalize the following transactions of Trahan Communications, Inc.: 2014 Dec 31 2015 Jan 1 Paid semiannual interest Issued $3,000,000 of 4%, 10-year bonds payable Interest payment dates are July 1 and January 1. Paid semiannual interest and amortized bond discount the straight-line method on the 4% bonds payable. payable. 2024 Jan I Paid the 4% bonds at maturity. At December 31, 2014, after all year-end adjustments, determine the carrying amount o Trahan Communications bonds payable, net. 3. For the six months ended July 1, 2014, determine the following for Trahan Communications, Inc.: a. Interest expense b. Cash interest paid What causes interest expense on the bonds to exceed cash interest paid