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Question 2 Partially correct Mark 13.00 out of 18.00 P Flag question Edit question Recording Bonds Issued at a Discount- Straight-Line Yale Corporation issued to Zap Corporation $60,000, 8% (cash interest payable semiannually on June 30 and December 31) 10-year bonds dated and sold on January 1, 2020. Assume that the company uses the straight-line amortization method. If the bonds were sold at 97, provide journal entries to be made at each of the following dates. a. January 1, 2020, for issuance of bonds. b. June 30, 2020, for interest payment. Note: List multiple debits or credits (when applicable) in alphabetical order. Date Account Name Dr. Cr. a. Jan. 1, 2020 Cash 58,200 Discount on Bonds Payable 1,800 Bonds Payable 60,000 b. June 30, 2020 Interest Payable 2,490 Discount on Bonds Payable 0 Cash 0 2,400 x 0 0 0 X 0 X 90 X
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