(Answered) Motley company issued 300000 8 15-year bonds on december 31

Accounting

Motley Company issued $300,000, 8%, 15-year bonds on December 31, 2016, for $288,000. Interest is payable annually on December 31. Motley uses the straight-line method to amortize bond premium or discount.

Prepare the journal entries to record the following events. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a) The issuance of the bonds.

(b) The payment of interest and the discount amortization on December 31, 2017.

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