(Answered) Problemdobbs company issues 8 two-year bonds on december 31

Accounting

Problem

Dobbs Company issues 8%, two-year bonds, on December 31, 2015, with a par value of $97,000 and semiannual interest payments.

Semiannual Period-End		Unamortized Discount	Carrying Value
(0)	12/31/2015	5,940	91,060
(1)	6/30/2016	4,455	92,545
(2)	12/31/2016	2,970	94,030
(3)	6/30/2017	1,485	95,515
(4)	12/31/2017	0	97,000

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

Required:

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

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