Question: Exercise 10-16A (Static) Straight-line amortization for bonds issued at a discount LO 10-4 On January 1, Year 1, Price Company issued $190,000 of five-year, 6

Exercise 10-16A (Static) Straight-line amortization for bonds issued at a discount LO 10-4 On January 1, Year 1, Price Company issued $190,000 of five-year, 6 percent bonds at 961/2. Interest is payable annually on December 31 . The discount is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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