Answer:
Note: Question is incomplete, the full question is attached as picture below
Journal Entries - Snap Company
Date Particulars Debit Credit
1-Jan Cash Dr $92,640.00
Discount on bond payable $7,360.00
To Bond Payable $100,000.00
(To record issue of bonds)
30-Jun Interest expense Dr $5,736.00
To Cash ($100,000*10%*6/12) $5,000.00
To Discount on bond payable $736.00
(($7,360 - $6,624)
(To record semiannual interest payment and discount amortization)
31-Dec Interest expense Dr $5,736.00
To Cash ($100,000*10%*6/12) $5,000.00
To Discount on bond payable $736.00
($6,624 - $5,888)
(To record semiannual interest payment and discount amortization)
