IH Two independent situations follow: 1. On January 1, 2020, Indigo Limited issued $330,000 of 10-year, 10% bonds at par. Interest is payable quarterly on April 1, July 1, October 1, and January 1. On June 1, 2020, Teal Mountain Inc, issued at par plus accrued interest, $159,000 of 10-year, 10% bonds dated January 1. Interest is payable semi-annually on July 1 and January 1. 2. Prepare journal entries to record the issuance of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Indigo Limited Teal Mountain Inc. Prepare journal entries to record the payment of interest on July 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) Date Account Titles and Explanation Indigo Limited Debit Credit 7/1/20 Teal Mountain Inc. 7/1/20 Prepare journal entries to record the accrual of interest on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Indigo Limited 12/31/20 Teal Mountain Inc. 12/31/20