E9-32B. (Learning Objectives 1, 6: Account for bonds payable; report long-term Holloway Corporation issued 8%, 10-year bonds with a face value of $2,000,000 at of 96 on July 1, 2018. The bonds pay interest each straight-line amortization method for all bond premiums and discounts. The com fiscal year-end of December 31 term liabilitiey) a price anley January 1 and July 1. Holloway uses the Requirements 1. Record the issuance of the bonds on July 1, 2018. 2. Record the accrual for the cash interest payable on the bonds and the amortization of any premium or discount on the bonds on December 31. 2018. 3. Show how the accounts related to the bonds issued on July 1, 2018, would be reported on Holloway's balance sheet as of December 31, 2018