ABC Co issues $100,000, 5-year, 10% bonds at 98%, with interest payable on July 1 and Jan 1. The straight-line method is used to amortize the bond discount. Bonds Payable Prepare the journal entry to record the sale of these bonds on January 1, 2020. Accounts /Explanations debit credit Date Answer these questions: a. What are the issuer's cash proceeds from issuance of these bonds? b. What total amount of bond interest expense will be recognized over the life of these bonds? c. Prepare the journal entry to record interest expense and bond discount amortization on July 1, 2020. Date Accounts /Explanations debit credit