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On Jan. 1, 2020 ABC company borrows $500 by issuing a 3-year, 12% bond at face value. Required Prepare the necessary journal entries on the

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On Jan. 1, 2020 ABC company borrows $500 by issuing a 3-year, 12% bond at face value. Required Prepare the necessary journal entries on the following dates Jan 1, 2020 (issuance of the bond) Dec 31, 2020 (recording of interest) Jan 1, 2021 (payment of interest) DATE ACCOUNT TITLES DEBIT C Jan 1, 2020 $ DATE ACCOUNT TITLES DEBIT Dec 31, 2020 - DATE ACCOUNT TITLES DEBIT Jan. 1, 2021 $

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