Question: required for a transaction/event, select No Journal Entry Required in the first account field.) On January 1, Innovative Solutions, Incorporated, issued $180,000 in bonds at

first account field.) On January 1, Innovative Solutions, Incorporated, issued $180,000 in

required for a transaction/event, select "No Journal Entry Required" in the first account field.) On January 1, Innovative Solutions, Incorporated, issued $180,000 in bonds at face value. The bonds have a stated interest rate of 6 percent. The bonds mature in 10 years and pay interest once per year on December 31. Required: 1, 2 \& 3. Prepare the required journal entries to record the bond issuance, interest payment on December 31 , early retirement of the bonds. Assume the bonds were retired immediately after the first interest payment at a quotpd price of 101. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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