On January 1,2019,Patterson Corporation issued $100,000,9%,5-year bonds with semiannual interest payments on June 30 and December 31.The bonds were issued at $96,149 yielding an effective-interest rate of 10%.Patterson uses the effective-interest method of amortization.The company's fiscal year ends on December 31.
Required:
Prepare the journal entries that Patterson would make on January 1,June 30 and December 31,2019.Round all amounts to the nearest dollar.Omit explanations.

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The Answer of On January 1,2019,Patterson Corporation issued $100,000,9%,5-year bonds with semiannual interest payments on June 30 and December 31.The bonds were issued at $96,149 yielding an effective-interest rate of 10%.Patterson uses the effective-interest method of amortization.The company's fiscal year ends on December 31.
Required:
Prepare the journal entries that Patterson would make on January 1,June 30 and December 31,2019.Round all amounts to the nearest dollar.Omit explanations.

On January 1,2019,Patterson Corporation Issued $100,000,9%,5-Year Bonds with Semiannual Interest