mework Question 18, E9-21A (similar to) Part 1 of 5 HW Score: 76.2%, 76.2 of 100 points O Points: 0 of 5 Save On January 1, 2020, Cameron Corporation issued five-year, 10% bonds payable with a face value of $3,000,000. The bonds were issued at 90 and pay interest on January 1 and July 1. Cameron amortizes bond discounts using the straight-line method. On December 31, 2022, Cameron retired the bonds early by purchasing them at a market price of 93. The company's fiscal year ends on December 31, Read the requirements. Requirement 1. Journalize the issuance of the bonds on January 1, 2020. (Record debits frat, then credits. Exclude explanations from any journal entries.) pages Date 2020 Jan 1 Journal Entry Accounts Debit Credit Requirements 1. Journalize the issuance of the bonds on January 1, 2020 2. Record the semiannual interest payment and amortization of bond discount on July 1, 2020. 3. Record the interest accrual and discount amortization on December 31, 2020. 4. Calculate the carrying value of the bonds payable on December 31, 2022, prior to their retirement 5. Calculate the gain or loss on the retirement of the bonds payable on December 31, 2022. Indicate where this gain or loss will appear in the financial statements Print Done - X Clear all Check answer Requirements 1. Journalize the issuance of the bonds on January 1, 2020. 2. Record the semiannual interest payment and amortization of bond discount on July 1, 2020. 3. Record the interest accrual and discount amortization on December 31, 2020. 4. Calculate the carrying value of the bonds payable on December 31, 2022, prior to their retirement. 5. Calculate the gain or loss on the retirement of the bonds payable on December 31, 2022. Indicate where this gain or loss will appear in the financial statements. Print Done - On January 1, 2020, Cameron Corporation issued five-year, 10% bonds payable with a face value of $3,000,000. The bonds were issued at 90 and pay interest on January 1 and July 1. Cameron amortizes bond discounts using the straight-line method. On December 31, 2022, Cameron retired the bonds early by purchasing them at a market price of 93. The company's fiscal year ends on December 31. Read the requirements Requirement 1. Journalize the issuance of the bonds on January 1, 2020. (Record debits first, then credits. Exclude explanations from any journal entries.) Date 2020 Jan 1 Journal Entry Accounts Debit Credit