QS 14-5 Journalizing discount bond issuance LO P2 Enviro Company issues 10%, 10-year bonds with a par value of $240,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 12. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $240,000. ces Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 212,400 Cash Discount on bonds payable Bonds payable Record entry Clear entry View general Jour Check my work 3 Snap Company issues 12%, five-year bonds, on January 1 of this year, with a par value of $130,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Val 10) January 1, issuance $7,200 $122,800 (1) June 30, first payment 6,480 123,520 (2) December 31, second payment 5,760 124, 240 0.18 points Skipped Use the above bond amortization table and prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. eBook View transaction list Hint Print Journal entry worksheet 2 3 References Record the issuance of the bonds Note: Enter debits before credits General Journal Date January 01 Dobit Credit Record entry Clear entry View general jou 3 Snap Company issues 12%, five-year bonds, on January 1 of this year, with a par value of $130,000 and semiannual interest payments. 0.18 points Carrying Val $122,800 123, 520 124, 240 Semiannual Period-End January 1, issuance June 30, first payment December 31, second payment (0) (1) (2) Unamortized Discount $7,200 6,48 5,760 Skipped Use the above bond amortization table and prepare journal entries to record (a) the issuance of bonds on January 1, (b) the first interest payment on June 30, and (c) the second interest payment on December 31. eBook View transaction list Hint Journal entry worksheet Print