On Feb 1, 2015, ABC company issued $5,000,000 of 10% bonds for $424,768 cash. Interest on the bonds is paid semiannual onJuly 31. and Jan 31. The bonds will mature in 20 years. the market interest for bonds of similar risk and maturity is 12%. The company's financial perils ends on December 31.

1- Prepare the necessary journal entries for Feb 1 and Jan 21.

2- The company has not paid interest on the Zero bond? agree or disagree. Explain