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2) Megamart issued 300, $1,000,9%, 20-year bonds on January 1, 2020, at 104. Interest is payable annually on January 1, Megamart uses straight-line amortization for

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2) Megamart issued 300, $1,000,9%, 20-year bonds on January 1, 2020, at 104. Interest is payable annually on January 1, Megamart uses straight-line amortization for bond premium or discount. Instructions: Prepare the joumal entries to record the following events. a) The issuance of the bonds. b) The accrual of interest and the discount or premium amortization on December 31, 2020. c) The payment of interest on January 1, 2021. d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded

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