Jobbs Company issues 10%, five-year bonds, on December 31, 2010, with a par value of $100,000 and semiannual interest payments. Use the following straight-line bond amortization table and prepare journal entries to record (a) the issuance of bonds on December 31, 2010; (b) the first interest payment on June 30, 2011; and (c) the second interest payment on December 31, 2011.
Semiannual Period-End | Unamortized Premium | Carrying Value |
(0) 12/31/2010 | $8,111 | $108,111 |
(1) 6/30/2011 | 7,300 | 107,300 |
(2) 12/31/2011 | 6,489 | 106,489 |
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