Long-term Liabilities And Receiva Issuing bonds at a Discount Straight-Line method Jet company sells bonds for $92,. 39 on January 1, 2004. The bonds have a face value of S100,000 and a 12% stated annual interest rate. Interest is paid semiannually and the bonds mature on december 31. 2008 Cash 92976.39 Discount on bonds payable 7023.61 Bonds payable 100.000.00 ContinuedIssuing Bonds at a Discount Jet Company sells bonds for $92,976.39 on January 1, 2004. The bonds have a face value of $100,000 and a 12% stated annual interest rate. Interest is paid semiannually and the bonds mature on December 31, 2008. Cash 92,976.39 Discount on Bonds Payable 7,023.61 Bonds Payable 100,000.00 Continued Straight-Line Method Intermediate Accounting 11 Long-term Liabilities And Receivables