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FEG ltd. issued $1,000,000 of 5-year, 6% bonds at 96 on January 1, 2019. The bonds pay interest annually. Assume that company uses straight line

FEG ltd. issued $1,000,000 of 5-year, 6% bonds at 96 on January 1, 2019. The bonds pay interest annually. Assume that company uses straight line method for amortization. Prepare the journal entries to record the following events: (a) The issuance of the bonds. (b) The accrual of interest on December 31, 2019. (c) The payment of interest on January 1, 2020. (d) The redemption of bonds on January 1, 2021 at 101.

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