Smith Corporation issued $320,000 of 4%, 25-year bonds at 91 on November 1, 201X, with semiannual interest

Question:

Smith issued $320,000 of 4%, 25-year bonds at 91 on November 1, 201X, with semiannual interest payable on November 1 and May 1. Amortization of discount is by the straight-line method. Record the journal entries for the following:
a. Issuance of bonds.
b. Semiannual interest payment on May 1 and amortization of discount.
c. Retirement of bonds at maturity.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...