On January 1, 2019, DAS Company authorized a $1,000,000, 10-year, 6% coupon bond, with annual interest to be paid each December 31. The market rate of interest at the time the bonds were issued was 9%.

a) Show the journal entry to record the sale of the bonds.

b) Prepare the journal entry on December 31, 2019, to record amortization for the year, assuming the straight-line method.

Please show work / explain steps to the answer