able method tions P15 AS and December 3 Journalize the following transactions of Fayuz Communications Inc.: 2020 Jan. 22 2 Jul. Dec. 31 31 31 2030 Jan. 2 Issued $8,000,000 of 7 percent, 10-year bonds payable at 97.00. Signed a five-year capital lease on machinery. The agreement requires annual lease payments of $80,000, with the first payment due immedi ately. The present value of the five lease payments is $333,589, using a market rate of 10 percent. Paid semi-annual interest and amortized the discount by the straight- line method on the 7 percent bonds payable. Accrued semi-annual interest expense and amortized the discount by the straight-line method on the 7 percent bonds. Recorded amortization on the leased machinery using the straight-line method. Accrued interest expense at 10 percent on the lease liability. Paid the 7 percent bonds at maturity. (Ignore the final interest payment.) tnerships and Corporate Transactions FU The