Question: On January 1 , 2 0 2 4 , Sisek Company borrowed $ 8 0 0 , 0 0 0 with a 1 0 -

On January 1,2024, Sisek Company borrowed $800,000 with a 10-year, 9.75%

On January 1,2024, Sisek Company borrowed $800,000 with a 10-year, 9.75% note, interest payable semiannually on June 30 and December 31. Cash in the amount of $792,800 was received when the note was issued.Prepare the necessary journal entry at January 1,2024. If an amount box does not require an entry, leave it blank.
Record issuance of notes at discount
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When bonds are issued, any premium or discount is recorded in a separate valuation account.
Record interest expense
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Any premium or discount is amortized to interest expense.
note, interest payable semiannually on June 30 and December 31. Cash in

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