Mohoney sales employs straight line method to amortize bond

Reference no: EM13397031

On January 2, 2014, Mahoney Sales issued $10,000 in bonds for $9,400. They were 5-year bonds with a stated rate of 4%, and pay semi-annual interest payments. Mohoney Sales uses straight line method to amortize bond discount. Please provide the journal entry for the bond issuance and first interest payment including the amortization of the discount.

Reference no: EM13397031

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