Paying the semiannual bond interest and amortizing a Discount or Premium on the issue of the Bond. a) If the Einstein Corporation bond issus of $500,000 of 8% ten-year Bonds on January 1, 202X pays interest semiannually, journalize the entry for the July 1 202X interest payment and every 6 month payment until the bond has matured under the following conditions: 1) The market or effective rate of interest when issued on January 1, 202X is also 8% Account Name Debit Credit.
2) The market or effective rate of interest on January 1, 202X was 10%, and the bonds were sold for $485,000 in cash Account Name Debit Credit.
3) The market or effective rate of interest on January 1, 202X was 6%, and the bonds were sold for $510,000 in cash. Account Name Debit Credit
