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On 1/1/2020 Blue Company issued 5 year, 8% bonds with a par value of $400,000. The company received $120,000 in cash Intered is pud samurally

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On 1/1/2020 Blue Company issued 5 year, 8% bonds with a par value of $400,000. The company received $120,000 in cash Intered is pud samurally on 30 ure and 31 December every year Required: (1) Prepare the joumal entry to record the bonds issuance on 1/1/2020 (2) Prepare the journal entry to record the interest payment and the mortation of bond discount or premium on 3062020 (3) Prepare the journal entry to record the repayment of bonds on 31/12/2004 CLEARLY INDICATE THE DEBITS & CREDITS Explonary 2020, XY Company pays $10.000 cash to purchanel Ansvar Dr and 10 000 C Cash 10.000

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