Bob Steele CPA, CGMA, M.S.tax 2 Bob Steele CPA, CGMA, M.S.tax 3 Bob Steele CPA, CGMA, M.S.tax 4 Bob Steele CPA, CGMA, M.S.tax 5 Objectives: We are now able to: • Record the journal entry for the issuance of a bond at a discount • Explain the effect of recording the journal entry on trial balance accounts • Calculate the interest payment and amortization of discount using the straight line method • Record the journal entry related to interest payments and amortization of discount • Explain the effect of recording the journal entry on trial balance accounts