i) On April 1, 2020, Singh Company issued $1,000,000 face value, 16.3%, ten-year bonds. The market rateof interest was 16%. Interest is paid semi-annually on April 1^st and October 1^st. Singh Company has a December 31^stfiscal year end. Round all calculations to the nearest dollar.

Instructions:

1. Prepare the necessary journal entries to record the bond transactions for 2020.

2. Singh Company decided to redeem the bonds on April 1^st ,2021 ( after all interest owing to the bondholders was paid ) at 102. Prepare the necessary journal entry to record the redemptionof the bonds on this date.

Date	Accounts	Debit	Credit