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On January 1, 2016, Technicians Credit Union issued 7%, 20 year bonds payable with the...

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Accounting

On January 1, 2016, Technicians Credit Union issued 7%, 20 year bonds payable with the face value of $100,000. The bonds pay interest semiannually, on June 30 and December 31. The issue price of the bonds was 108. Journalize the following transactions...

Issuance of bonds of January 1, 2016

Payment of interest and amortization on June 30, 2016

Retirement of bonds on December 31, 2035

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