Zerox issues 400, $1,000 bonds at a stated rate of 6%. The bonds will mature in 3 years, and interest is paid semi-annually. The market rate of interest on the day of issuance is 5%. In the journal entry to record the bond issuance, is there a discount or premium? Write either Discount or Premium How much is your discount/premium in your journal entry at issuance, Round to the nearest whole number. Write just the amount here: Failure to adjust at the end of an accounting period for revenues that were earned during the period but are recorded as unearned revenues understates owners' equity and overstates liabilities. overstates liabilities and net income. None of the other answers. understates revenues and overstates net income. understates net income and liabilities