1. On December 31, 2020, Salad Co., a wholly owned subsidiary of Potato Co., issued bonds to the investing public. The face value of the bonds was $5,000,000. The coupon rate (aka stated rate or contractual rate) was 6%. Because the prevailing market rate of interest was less than the 6% coupon rate, the bonds were issued at a $400,000 premium. The bonds have a 10-year term to maturity and interest is paid semi-annually, June 30 and December 3

What was the journal entry recorded by Salad Co. when it issued the bonds on 12/31/20?

What was the journal entry recorded by Salad Co. when it made its first interest payment on June 30, 2021? (Dont forget to amortize the bond premium).

What was the journal entry recorded by Salad Co. when it made its next interest payment on December 31, 2021?

June 30, 2022?

December 31, 2022?