Durham, Inc. issued $500,000 of its ten-year zero-coupon bonds on January 1, 2019, to yield 9%. The effective interest method is used.

	PV of $1 (9%)	PV of an Annuity of $1 (9%)	FV of $1 (9%)	FV of an Annuity of $1 (9%)
10 periods	0.422	6.418	2.367	15.193

Required:

a.	Compute the cash proceeds from the sale of the bond.
b.	Prepare the journal entry to record the sale.
c.	Prepare the journal entry to record interest for 2020.