Problem 3 The Sleepy Corporation issued $1,000,000 of ten year bonds on January 1, 2019. The interest rate on the bonds is 8%, and the interest is paid semi-annually on July 1 and January of each year. The bonds were issued at 98. The straight-line method for amortizing discounts and premiums is used. Were the bonds issued at a discount or premium? b. Prepare the journal entries on 1. January 1, the date the bonds were issued 2. July 1, the first interest payment date 3. December December 31, 2019, for the year end journal entry to record interest expense. C. Calculate the total amount of interest expense on the 2019 income statement. 7 Times New .... 12 . B I V 5 A. C D A B 1 Problem 3 E F G CAN Date Account Titles Debit Credit 936). 10 4 12 66)2. 14 15 16 17 18 8 9 10 11 (0)3. 12 le ole GENSERE BEBEDEE Jouw Problemi Problem 2 Problem 3