(Answered) Paulson company issues 7 four-year bonds on december 31

Accounting

Paulson Company issues 7%, four-year bonds, on December 31, 2015, with a par value of $109,000 and semiannual interest payments.

Semiannual Period-End		Unamortized Discount		Carrying Value
(0)	12/31/2015	$	6,913	$	102,087
(1)	6/30/2016		6,049		102,951
(2)	12/31/2016		5,185		103,815

Use the above straight-line bond amortization table and prepare journal entries for the following.

(a) The issuance of bonds on December 31, 2015.

(b) The first interest payment on June 30, 2016.

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