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On January 1, Year 1, Price Company issued $116,000 of five-year, 4 percent...

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Accounting

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On January 1, Year 1, Price Company issued $116,000 of five-year, 4 percent bonds at 97. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (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 1 2 3 > Record the entry for issuance of bonds. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal

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