Print Item Issuing bonds at a premium Instructions Chart of Accounts Journal Instructions On January 1, the first day of the fiscal year, a company issues a $1,800,000, 4%, five-year bond that pays semiannual interest of $36,000 ($1,800,000 x 4% x %), receiving cash of $1,992,170 Journalize the bond issuance. Refer to the Chart of Accounts for exact wording of account billes CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 111 Petty Cash 410 Sales 610 Interest Revenue 611 Gain on Redemption of Bonds 121 Accounts Receivable 122 Allowance for Doubtful Accounts EXPENSES 510 Cost of Merchandise Sold 126 Interest Receivable 127 Notes Receivable 131 Merchandise Inventory 141 Office Supplies 191 Land 194 Office Equipment 195 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 221 Salaries Payable 231 Sales Tax Payable 232 Interest Payable 515 Credit Card Expense 516 Cash Short and Over 522 Office Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense 535 Rent Expense 536 Insurance Expense 537 Office Supplies Expense 541 Bad Debt Expense 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 711 Loss on Redemption of Bonds 241 Notes Payable 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payablo Check My Work EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary Journal 322 Paid-in Capital in Excess of Par-Preferred Stock 331 Paid-in Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary Journal Joumalize the bond issuance. Refer to the Chart of Accounts for exact wording of accounts MGE 10 JOURNAL ACCOUNTING EQUATION POST RER DEBIT CREDIT ASSETS LIABILITIES DESCRIPTION EQUITY DATE 1 2 - Check My Work Save and Exit Submit Assignment for Grading All work saved