Ellison Company issued $500,000, 7%, 20-year bonds on January 1, 2010, at 103. Interest is payable annually on January 1. Ellison uses straight-line amortization for bond premium or discount. Prepare the journal entries to record the following events. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Word bank for Debit/Credits: Gain on bond redemption Cash Accounts Receivable Bonds Payable Loss on Bond Redemption Mortgage Note Payable Discount on Bonds Payabe Bond Interest Payable Bond Interest Expense Premium on Bonds Payable (a) The issuance of the bonds. Jan. 1 Debit Credit Credit (b) The accrual of interest and the premium amortization on December 31, 2010. Dec. 31 Debit Credit Credit (c) The payment of interest on January 1, 2011. Jan. 1 Debit Credit (d) The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. Jan. 1 Debit Credit