The board of directors of Amora Company authorized issuance of $1,000,000 of 6 percent bonds. Each bond

Question:

The board of directors of Amora Company authorized issuance of $1,000,000 of 6 percent bonds. Each bond has a of $10,000. The interest is payable semiannually on February 1 and August 1. The bonds are dated February 1, 2016, and mature 10 years later.
INSTRUCTIONS
1. Record the transactions below in general journal form. Use the account names given in the chapter. (Round your numbers to the nearest whole dollar.)
2. Prepare the Long-Term Liabilities section of the corporation's on December 31, 2016.
DATE TRANSACTIONS FOR 2016
Feb. 1 Issued $500,000 of bonds at 104.
Aug. 1 Paid the semiannual interest on the bonds issued and recorded the amortization of the premium.
Dec. 31 Recorded the adjusting entry to accrue interest on the bonds issued and to amortize the premium for five months. Round to nearest whole dollar.
31 Recorded the closing entry for Bond Interest Expense.
DATE TRANSACTIONS FOR 2017
Jan. 1 Reversed the adjusting entry of December 31, 2016.
Analyze:
If the reversing entry had not been recorded in January 2017, how would the payment of bond interest be recorded in February 2017?
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