! Required information Exercise 10-15A Straight-line amortization of a bond premium LO 10-5 (The following information applies to the questions displayed below) The Square Foot Grill, Inc. issued $280,000 of 10-year, 6 percent bonds on July 1 Year 1, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization. Exercise 10-15A Part a Required a. Prepare the journal entries to record issuing the bonds and any necessary journal entries for Year 1 and Year 2. Post the journal entries to T-accounts. Prepare any necessary closing entries for Year 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Required information Journal entry worksheet Record the issue of bonds payable with premium. Note: Enter debits before credits. General Journal Debit Credit Date Jul 01 Record entry Clear entry View general journal Required information IWCICLI LI TUI DIT NIE LIVRY SILICOT Cash Premium on Bonds Payable Year 1 Year 1 End. Bal. 0 End. Bal. 0 Year 2 Year 2 End. Bal. End. Bal. Bonds payable Year 1 End. Bal. 0 Required information End. Bal. 0 Retained Earnings Interest Expense Year 1 Year 1 End. Bal. Year 2 0 End. Bal. Year 2 End. Bal. End. Bal. 0