On the first day of the current fiscal year, 1,500,00 of 10-year, 8% bonds, with interest payable semiannually, were sold for 1,225,000. Present entries to record the following transactions for the current fiscal year:
(a) Issuance of the bonds
(b) First Semiannual interest payment
(c) Amortization of bond discount for the year, using the straight line method of amortization.
(a) Issuance of the bonds
(b) First Semiannual interest payment
(c) Amortization of bond discount for the year, using the straight line method of amortization.