Inland Corp. issued a $700,000, 9.5 percent, 10-year bond payable at a price of 105.5 on January 1, 2020. Journalize the following transactions for Inland Corp. Include an explanation for each entry. Inland uses the straight-line method to amortize the premium Inland Corp. issued a $700,000, 0.5 percent, 10-year bond payable at a price of 106.5 on January 1, 2020. Journalize the following transactions for Irland Corp. Include an explanation for each entry. Inland uses the straight-line method to amortize the premium a. Issuance of the bond payable on January 1, 2020. b. Payment of semi-annual interest and amortization of bond premium on July 1, 2020