Assignment Financial Accounting II ACCT 2036 Due date: March 31, 2020 at 12:00 PM Question #2(12 marks) Prepare the necessary journal entries to record the following transactions relating to the long- term issuance of bonds by Glendale Corp. Show calculations and round to the nearest dollar. March 1 Issued $200,000 (face value) 8% bonds for $218,040, including accrued interest. Interest is payable semi-annually on December 1 and June 1 with the bonds maturing 10 years from the previous December 1. The bonds are callable at 102. June 1 Paid semiannual interest on the bonds. Use straight-line amortization for any premium or discount. December 1 Paid semi-annual interest on the bonds, and then purchased $100,000 face value bonds at the call price in accordance with the provisions of the bond indenture. Assignment Financial Accounting II ACCT 2036 Due date: March 31, 2020 at 12:00 PM Question #2(12 marks) Prepare the necessary journal entries to record the following transactions relating to the long- term issuance of bonds by Glendale Corp. Show calculations and round to the nearest dollar. March 1 Issued $200,000 (face value) 8% bonds for $218,040, including accrued interest. Interest is payable semi-annually on December 1 and June 1 with the bonds maturing 10 years from the previous December 1. The bonds are callable at 102. June 1 Paid semiannual interest on the bonds. Use straight-line amortization for any premium or discount. December 1 Paid semi-annual interest on the bonds, and then purchased $100,000 face value bonds at the call price in accordance with the provisions of the bond indenture