AMA company issued $80,000 of 9%, 20-year bonds dated January 1, 2022, that mature on December...

  

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AMA company issued $80,000 of 9%, 20-year bonds dated January 1, 2022, that mature on December 31, 2030, and pay interest semi-annually on each June 30 and December 31. The effect of this transaction in the date of issuance: Cash decreased by 80,000 Interest Expense increased by 3,600 Cash increased by 80,000 Bonds payable decreased by 80,000 A AMA company issued $80,000 of 9%, 20-year bonds dated January 1, 2022, that mature on December 31, 2030, and pay interest semi-annually on each June 30 and December 31. The effect of this transaction in the date of issuance: Cash decreased by 80,000 Interest Expense increased by 3,600 Cash increased by 80,000 Bonds payable decreased by 80,000 A

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