1. Acorn Company issued a $2,000,000 bond at 99% on January 1, 2020. The bond has a two year term and pays 5% interest annually each December 31st. Prepare the appropriate Journal entries. Show all your work. 2. Elm Company issued a $1,000,000 bond at 102%, on January 1, 2020. The bond has a two year term and pays 6% annually each December 31st. Prepare the appropriate journal entries and post them to the ledger. 3. Magnolia Corporation Issued a $5,000,000 bond on January 1, 2020. The bond has a six year term and pays interest of 9% annually each December 31st. The market rate of interest is 7%, Required: Calculate the bond issue price using the present value tables. Show all of your work. 4. Maple Corporation sold 10,000 shares of $1 par common stock on July 17th. The stock has a market price of $25 per share. Prepare the appropriate journal entry. Show all of your work. 5. Birch Corporation sold 20,000 shares of no par preferred stock at $30 per share on July 10th. Prepare the appropriate Journal entries. Show all of your work. 6. On August 1st Rose Corporation declared a $5,000,000 cash dividend. The record date is September 1st and the payment date is October 1st. Prepare the appropriate journal entries. 7. On March 1st Tulip Corporation declared a land dividend. The land has a book value of $500,000 and a fair market value of $700,000. The record date is April 1st and the payment date is May 1st. Prepare the appropriate journal entries. Show all of your work. 8. On August 15th, Beechwood Corporation purchased Treasury Stock for $90,000. On November 20th, Beechwood sold the Treasury stock for $110,000. Beechwood has an additional paid in capital account. Ptrpare the appropriate journal entries. 2000 9. On July 29th, Sycamore Corporation purchased Treasury stock for $50,000. On September 15th, Sycamore sold the Trerasury stock for $35,000. Sycamore does not have an additional paid in capital account. Prepare the appropriate journal entries