prepare the journal entry to record the issue of each of these two bonds. assuming each company issued $700,000 of bonds in total.

Assume that the following are independent situations recently reported in the Wall Street Journal. 1 General Electric (GE) 7% bonds, maturing January 28, 2018, were issued at 111.00. Boeing 7% bonds, maturing September 24,2032, were issued at 98.50. 2 Were GE and Boeing bonds issued at a premium or a discount? The General Electric bonds were issued at a premium and the Boeing bonds were issued at a discount eTextbook and Media List of Accounts Prepare the journal entry to record the issue of each of these two bonds, assuming each company issued $700.000 of bonds in total. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit 1 2