8/31/y1, $3,000,000 face value bonds are issued for $2,600,000 plus accrued interest. These bonds pay interest on October 31 and April 30. These bonds have a coupon rate of 6%, and are dated April 30, y1. The bonds are 20-year bonds, and as such mature on April 30, Y21. Please record the following, using the straight-line approach. This company has a December 31 year end. 8/31/y1, issuance of the bonds (include accrued interest). 10/31/y1, interest payment. 12/31/y1, accrual of interest. 4/30/y2, interest payment.

PLEASE USE THE STRAIGHT LINE APPROACH!! Please show full work so I can understand how to use the STRAIGHT LINE METHOD.