Journal entry to record the issuance and repayment of a bond Assume that a city issues a $5,000,000 bond at par. The city, subsequently, pays $250,000 in interest on the bond and $1,000,000 of the principal. Prepare the journal entries to record the issuance of the bond and the subsequent payments. Debit Credit General Journal Description Issuance of bond: Cash Expenditures-repayment of bond Payment of bond: 0 0 0 0 0 0 Expenditures--Principal on bond 0 0 0 0 Please answer all parts of the