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gurestion 20 On Juty 1, 2023, Davis Corp ssued sto0,000 par value, 10%. 10-year bonds, with interest payable semi-annually on January 1 and July 1

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gurestion 20 On Juty 1, 2023, Davis Corp ssued sto0,000 par value, 10\%. 10-year bonds, with interest payable semi-annually on January 1 and July 1 . The bonds were issued for SMof, 102, On January 2, 2005, Davis offered to buy back the bonds at 104. Forty percent of the bondholders accepted the offer. Davis uses the affective-interest methiod of amartieing promiam or dispocunt. instructions a) Prepare the pournal entry to recond the bond issuance. b) Prepare the adfating entry at December 31,2023 , the end of the fiscal yoar c) Prepare the entry for the interest payment on January 1,2024 . d) Prepare the entry to record the retirement of the bonds on January 2,2025 . Round al walues to the nearest dollar

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