The Square Foot Grill, Inc., issued $280,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization. value Required inform 3.33 polnts Required a. Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (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 Record the issue of bonds payable with premium Note: Enter debits before credits Date General Journal Debit Credit Jul 01, 2016 Record entry Clear entry View general joumal The Square Foot Gril Inc., issued $280,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization alue: 3.33 polnts equired . Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (lf no entry is required for a transaction event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 Record the interest expenses and amortization for bonds payable Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2016 Record entry Clear entry View general joumal The Square Foot Grill, Inc., issued $280,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization volue: Re 3.33 polnts Required a. Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (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 4 Record the closing entry for expenses. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2016 Record entry Clear entry View general joumal The Square Foot Grill, Inc. , issued $280,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization value Requ 3.33 polnts Required a. Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the interest expenses and amortization for bonds payable Note: Enter debits before credits Date General Journal Debit Credit Jun 30, 2017 Record entry Clear entry View general joumal The Square Foot Grill, Inc., issued $280,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization value Required informa 3.33 polnts Required a. Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (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 4 Record the interest expenses and amortization for bonds payable Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2017 Record entry Clear entry View general joumal The Square Foot Grill, Inc. , issued $280,000 of 10-year, 6 percent bonds on July 1, 2016, at 102. Interest is payable in cash semiannually on June 30 and December 31. The straight-line method is used for amortization value 3.33 polnts Required inform Required a. Prepare the journal entries to record issuing the bonds and any necessary journal entries for 2016 and 2017. Post the journal entries to T-accounts. Prepare any necessary closing entries for 2016. (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 4 Record the closing entry for expenses Note: Enter debits before credits Date Generai Journal Debit Credit Dec 31, 2017 Record entry Clear entry View general joumal Cash Premium on Bonds Payable 2016 2016 End. Bal. End. Bal. 2017 2017 End. Bal. End. Bal. Bonds payable 2016 End. Bal. Retained Earnings Interest Expense 2016 2016 End. Bal. End. Bal. 2017 2017 End. Bal. End. Bal. c. What amount of interest expense will Square Foot report on the financial statements for 2016 and 2017? 2016 2017 Interest expense