Question 8 Not complete Marked out of 2.73 Flag question Bonds Payable Sold at a Discount; Effective Interest Amortization On December 31, Blair Company issued $1,050,000 of 20-year, 11 percent bonds payable for $970,757, yielding an effective interest rate of 12 percent. Interest is payable semiannually on June 30 and December 31. Determine the financial statement effect of: (a) the issuance of the bonds (b) the first semiannual interest payment and discount amortization (effective interest method) on June 30 (c) the second semiannual interest payment and discount amortization on December 31 Round amounts to the nearest dollar. a. Bond issuance Transaction b. First interest payment and discount amortization c. Second interest payment and discount amortization Check Previous Save Answers 66F Assets Balance Sheet Liabilities Income Statement + Equity Revenues Expenses = Net Income