al instructie wilud c) 3. Bond Transactions (17 marks) On September 1, 2017, Erving Corporation issued $1,000,000, 6%, 10-year bonds. Interest is payable annually with the first payment due on September 1, 2018 and the market rate of interest is 5%. Required: a) b) Provide the appropriate journal entry on September 1, 2017 to record the issuance of the bond. Date Accounts Debit Credit Assuming Erving has a December 31" year end, prepare the 2017 year-end adjusting entry to account for accrued interest on the bond. Accounts Date Debit Credit Prepare a partial balance sheet at December 31, 2017 in good form for Erving Corporation displaying all amounts related to the bond. el Date d) Date Prepare the journal entry on September 1, 2018 to record the first interest payment. Accounts Debit Credit Assume the bonds were redeemed for $1,050,000 at September 31, 2020 when the amortized cost was $1,035,000. Record the redemption of the bonds. Accounts Debit Credit