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Assume that Ontario Hydro has 6 percent, 10-year bonds that mature on May 1, 2030. Further, assume that $10,000,000 of the bonds are issued at

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Assume that Ontario Hydro has 6 percent, 10-year bonds that mature on May 1, 2030. Further, assume that $10,000,000 of the bonds are issued at 94.00 on May 2020, and that Ontario Hydro pays interest each April 30 and October 31 a Record issuance of the bonds on May 1, 2020 b. Record the interest payment and straight-line amortization of the premium or discount on October 31, 2020 c. Accrue interest and amortize the premium or discount on December 31, 2020 d show how the company would report the bonds on the balance sheet at December 31, 2020. e. Record the interest payment on April 30, 2021 a Record issuance of the bonds on May 1, 2020. (Record debits first, then credits. Exclude explanations from journal entries. Round amounts to the near dollar.) Journal Entry Date Accounts Debit Credit 2020 May 1

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