Question: Journalizing bond issuance and interest payments On June 30, Doherty Limited issues 6%, 20-year bonds payable with a face value of $120,000. The bonds are issued at 90 and pay interest on June 30 and December 31.
Requirements: 1. Journalize the issuance of the bonds on June 30.
2. Journalize the semiannual interest payment and amortization of the bond discount on December 31.