HAPTER Notes Payable CHAPTER 10 Record the journal entries on the books of Stanley's Garage transactions Inc. for the following October 1, 2017: B 8% note. orrwed $60.000 from Welils Fargo Bank and signed a 10 month, er 31,2017:Made the necessary year-end adjusting journal entry for the note. August 1, 2018: Repaid the note plus al interest due to Wells Fargo. Credit Date Accounts Debit October 1, 2017 December 31, 2017 August 1, 2018 BONDS Scenario 1 Rockhounds, Inc. issued $500,000 of five-year, 6% bonds on January annually. The market rate of interest on the date of issuance was 8%. Will these bonds sell at face value, at a discount or at a premium? 1, 2017. Interest is paid semi- Calculate the issuance price of the bonds in the space below