Clime Co. sells $600,000 of 9% bonds on May 1, 2020. The bonds pay interest on November 1 and Mayl. The due date of the bonds is November 1, 2024. The bonds yield 8%. Give entries through December 31, 2021. Required: Prepare all of the relevant journal entries from the time of sale until the date indicated. Use the effective interest method for discount and premium amortization (construct amortization tables where applicable). Amortize premium or discount on interest dates and at year-end. 1