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Corporation ssued 4% 10-yAAr bonds with fare va ue of$1 300 00 ศิ1a toa o 9 1 20 18 The bonds ay inta AS1aach January 1 and July 1 Yok usAs the straight Ina amntizatinn m tho traight-in on u to all bond murns and dscounts The company has a fiscal year an of Decamb Raad tha raquirmants Requirement 1. Record the issuance of the bonds on Juy 1, 2018 Record debits frst, then credits. Exclude explanations from any journal entries Journal Entr Date Accnunts Debit Cradit 2018 Cash Discuunt on Bunds Payatle Bonds Payahla Jul 1 1.300,000

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Face Value of the bond - 1300000 Interest Rate-4% Issues At 90 Issue Entry 1. Record the Bond Issue at 90 General Journal Cash Discou Bonds Payable Date Debit Credit 2018, july 01 1170000 130000 int on Bonds Payable 1300000 Record the Issue of the Bond at 90 (1,300,000*0.90 - 1,170,000)

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