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help asap Duncan Inc. issued 500, $1,200, 8%, 25 year bonds on January 1, 2020, at 102. Interest is payable on January 1. Duncan uses

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Duncan Inc. issued 500, $1,200, 8%, 25 year bonds on January 1, 2020, at 102. Interest is payable on January 1. Duncan uses straight-line amortization for bond discounts or premiums, INSTRUCTIONS: Prepare (ON PROPER ACCOUNTING PAPER) thejournal entries to record the following events (OMIT EXPLANATIONS): a) The issuance of the bonds b) The accrual of interest and bond discount (or premium) amortization on December 31, 2020. c) The payment of interest on January 1, 2021. d) The redemption of the bonds at maturity. Assume interest for the last period has been paid and recorded

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