QUESTION Not yet answered Points out of 16.00 P Flag question Bonds Payable Journal Entries; Effective Interest Amortization On December 31, 2009, Kay Company issued $600,000 of five-year, 13% bonds payable for $650,798 yielding an effective interest rate of 10%. Interest is payable semiannually on June 30 and December 31. Prepare journal entries to reflect (a) the issuance of the bonds, (b) the semlannual Interest payment and premium amortization (effective interest method) on june 30, payment and premiu 2010, and (c) the semiannual Interest m amortization on December 31, 2010. Round amounts to the nearest dollar. General Journal Date Description Debit Credit Dec.31 Bonds Payable To record issuance of bonds. Jun.30 Premium on Bonds Payable