Give me answer within 45 min please its very urgent if you will solved it I will give you upvotes now .....thanku ..... Recording Debt Issuance CostsYale Corporation issued to Zap Corporation $60,000, 8% (cash interest payable semiannually on June 30 andDecember 31) 10-year bonds dated and sold on January 1, 2020. Assume that the company uses the effectiveinterest amortization method and bond issuance costs are $1,500. If the bonds were sold to yield 9%, providejournal entries to be made at each of the following dates.a. January 1, 2020, for issuance of bonds.b. June 30, 2020, for the interest payment.• Note: List multiple debits or credits (when applicable) in alphabetical order.Note: Round your answers to the nearest whole dollar.

Issue price of the bonds as, = Present value of principal + Present value of interest payments…

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hod and bond issuance costs are e at each of the following dates. ance of bonds.

Principles of Accounting Volume 1

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Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6PB: Edward Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...

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Give me answer within 45 min please its very urgent if you will solved it I will give you upvotes now .....thanku .....

Recording Debt Issuance Costs
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 effective
interest amortization method and bond issuance costs are $1,500. If the bonds were sold to yield 9%, 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 the interest payment.
• Note: List multiple debits or credits (when applicable) in alphabetical order.
Note: Round your answers to the nearest whole dollar.

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