Industries is planning for the construction of a 4-level shopping center/movie complex. To finance the construction, Johnnsston is considering the issuance of a $25,000,000 bond issue. The bonds are projected to have the following terms issue on January 1, 2019 a S25 000 000, 20-year 8% bond, paying interest due annually on January 1, of each year for the January 1, 2039. next 20 years. Schoduled rotirement is REQUIRED: 1. Compute the amounts and journalize the tollowing projected transactions related to the bonds: January 1,2019 Issued the entire bond issue to investors. The quote is 102. December 31, 2019 Accrued the interest on the bonds as of December 31, the end of the fiscal year and famortized the valuation account that was recognized on January 1,2019 using the straight-line method Paid the interest due on the bond issue. January 1, 2020 REQUIRED 2. Independent of "1" above, assume December 31, 2019, and January 1, 2020. the bonds are issued at 95, due to economie conditions. Prepare the required journal entries on January 1 REQUIRED a. Assume that management ia planning to retire the bonds early on January 1, 2029. Assume that management is optimistic and projects that they can retire the bonds at 97. What entries would be required on January 1, 2029 (including the interest due on that day Hint: How many years remaining before the scheduled retirement? REQUIRED ning a 12%, 15-year note. The terms of the contract require that The installment payments will include interest and payment on the outstanding also is planning to borrow S90.000 from Fidelity Central Bank by sign sohnnston must pay $13,214.19 every January 1 for the next 10 years. The loan balance. Present the following journal entries: 1. Signing of the note on January 1,2019 2. Accrual of AND payment of the 1st installment payment 3. Accrual of AND payment of the 2nd installment payment