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! Required information [The following information applies to the questions displayed below.] Mi-T-M Corporation is a leading designer and manufacturer of high quality industrial equipment
! Required information [The following information applies to the questions displayed below.] Mi-T-M Corporation is a leading designer and manufacturer of high quality industrial equipment Mi-T-M Corporation issues $570,000 of 8% bonds on January 1, 2021 to finance operations. The bonds are due in 20 years. Interest is paid semiannually on June 30 and December 31. 2. If the market interest rate is 9%, the bonds will issue at $517,555. Record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest dollar amount.) No View transaction list View Journal entry worksheet Date General Journal January 01, 2021 Cash Discount on Bonds Payable Bonds Payable Debit Credit 1 2 June 30, 2021 Interest Expense Discount on Bonds Payable Cash 3 December 31, 2021 Interest Expense Discount on Bonds Payable Cash
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