Journalize the following transactions of Alewife Corp.: 2020 Jan. 2 Issued 13 percent, 10-year bonds with a maturity value of $3,000,000. The bonds were sold at 97.00. 2 Signed a seven-year capital lease on equipment. The agreement requires annual lease payments of $475,000, with the first payment due immediately. The present value of the seven lease payments is $2,068,625 (10 percent is the interest rate) Jul. 2 Paid semi-annual interest and amortized discount by the straight-line method on the 13 percent bonds payable Dec. 31 Accrued semi-annual interest expense and amortized discount by the straight-line method on the 13 percent bonds. 31 Recorded amortization on the leased equipment using the straight-line method (five years). 31 Accrued interest expense at 10 percent on the lease liability. 2030 Jan. 2 Paid the 13 percent bonds at maturity. (Ignore the final interest payment.) Journalize the transactions of Alewife Technologies Inc. January 2, 2020. Issued 13 percent, 10-year bonds with a maturity value of $3,000,000. The bonds were sold at 97.00. (Record debits first, then credits. Exclude explanations from journal entries. Round amounts to the neares Journal Entry Date Accounts Debit Credit 2020 Jan. 2 Cash 2,910,000 90,000 Discount on Bonds Payable Bonds Payable 3,000,000 January 2, 2020. Signed a seven-year capital lease on equipment. The agreement requires annual lease payments of $475,000, with the first payment due immediately. The present value of the seven lease payments is $2,068,625. Journal Entry Date Accounts Debit Credit Jan. 2