Exercise 3: (24 Points) sued $500,000, 6%, 5-year bonds at 105. Interest is On January 1, 2019 Focus Corporation is annually on January 1. The company used the straight-line method of amortization for payable bonds. Instructions (Prepare journal entries on the following page.) 1> Using the information above, prepare journal entries to record the following transactions; (a) Issuance of the bonds on January 1, 2019 (b) Accrual of interest on December 31, 2019 (c) Payment of interest on January 1, 2020 2> Assume that the bonds were issued at 95. Prepare the journal entries to record the follov transactions. (a) Issuance of the bonds on January 1, 2019 (b) Accrual of interest on December 31, 2019 Payment of interest on January 1, 2020. (c) A3s Assume the bonds that were originally issued at 105, are retired early on January 1, 2022 a Prepare the entry to record the early retirement. The balance in the Premium on Bonds Paya account on January 1, 2022 is $10,000