Please break this question down for me, I\' m all the way confused and I would l

Question

Please break this question down for me, I'm all the way confused and I would like to make sure I'm putting the correct information in the right area's. Not understanding this chapter.

The question below is one full question. HELP :( (3)

Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,591,194.

Please look over my answer's if they are incorrect please break it down in a doc to help. thanks again! New to accounting :)

Hillside issues $1,300,000 of 7%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $1,591,194.

Please look over my answer's if they are incorrect please break it down in a doc to help. thanks again! New to accounting :)

Explanation / Answer

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Date Account titles and explanations Debit Credit Jan 01,2015 Cash 1591194 Bonds payable 1300000 Premium on bond 291194

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