cord iournal entries for issue of new bond and payment of interest 10. Hopkins Company issued $800,000,10-year, 10% bonds on January 1,2020 . The bonds sold for $800,000. Interest is payable annually each December 31 . The yield on the bonds is 10%. (a) Record the sale of the bonds on January 1, 2020. (b) Record the payment of interest on December 31, 2020 (effective-interest method). (c) How should the bonds payable be reported on the balance sheet at 12/31/20? Net book value of bond payable on 12/31/20