Bonds Issued at a Discount

Seattle Sales Corp. issued the following bonds at a discount:

Date of issue and sale:

April 1, 20-1

Principal amount:


Sale price of bonds:


Denomination of bonds:


Life of bonds:

10 years

Stated rate:

7%, payable semiannually on September 30 and March 31

Prepare journal entries for:


Issuance of the bonds at a discount.

Interest payment and discount amortization on the bonds on September 30.

Year-end adjustment on the bonds.

If an amount box does not require an entry, leave it blank.

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