5. (18 points) Clever Corporation issued $1,000,000 face value 5 percent 5-year bonds on 1/1/2019. The...

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5. (18 points) Clever Corporation issued $1,000,000 face value 5 percent 5-year bonds on 1/1/2019. The bonds pay interest semiannually and were sold to yield 6 percent. The bonds were purchased by Wise Company. a. What is the issuance price of the bond? b. Prepare the entry that Clever will make to record the issuance of the bonds. c. Prepare the entry that Clever will make to record the first interest payment. d. Record the entry that Clever will make to record the retirement of the bond at its maturity date. e. Prepare the entry that Wise will make to record the purchase of the bonds. f. Prepare the entry that Wise will make to record the second interest payment. 5. (18 points) Clever Corporation issued $1,000,000 face value 5 percent 5-year bonds on 1/1/2019. The bonds pay interest semiannually and were sold to yield 6 percent. The bonds were purchased by Wise Company. a. What is the issuance price of the bond? b. Prepare the entry that Clever will make to record the issuance of the bonds. c. Prepare the entry that Clever will make to record the first interest payment. d. Record the entry that Clever will make to record the retirement of the bond at its maturity date. e. Prepare the entry that Wise will make to record the purchase of the bonds. f. Prepare the entry that Wise will make to record the second interest payment.