Document3 Microsoft Word w View Add-ins -. 1 Normal 1No Spacing Heading 1 Heading 2 Ttle Subtitle Subtle Emp.. Bonds Payable Journal Entries; Effective Interest Amortization On December 31, 2009, Kay Company issued $600,000 of five-year, 13% bonds payable for 650,798 yielding an effective interest rate of 10% Interest is payable semiannually on June 30 and December 31. Prepare journal entries to reflect (a) the issuance of the bonds, (b) the semiannual interest payment and premium amortization (effective interest method) on June 30, 2010, and (c) the semiannual interest payment and premium amortization on December 31, 2010. Round amounts to the nearest dollar General Journal Date Descriptiorn Debit Credit Dec.31 Bonds Payable To record issuance ofboads Jun 30 An Premium on Boads Payable Answ An To record semiannual interest payment and premium amortizaton Dec.31 Bend Interest Expense