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[4 marks) On October 1, 2020 West Corporation issued 5%, 10-year bonds with a face value of $500,000 at 108 (a 4% yield). Interest is

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[4 marks) On October 1, 2020 West Corporation issued 5%, 10-year bonds with a face value of $500,000 at 108 (a 4% yield). Interest is paid on October 1 and April 1, with any premiums or discounts amortized on an effective-interest basis. Questions Answers 1- Prepare the entry to record the issuance of the bonds on October 1, 2020. 2- Prepare entry to record Bond interest expense on the December 31, 2020

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