On January 1, 2020, Bronson Corporation issued five-year, 6% bonds payable with a face value of $2,100,000. The bonds were issued at 91 and pay interest on January 1 and July 1. Bronson amortizes bond discounts using the straight-line method. On December 31, 2022, Bronson retired the bonds early by purchasing them at a market price of 92. The company's fiscal year ends on December 31. Read the requirements. Requirement 1. Journalize the issuance of the bonds on January 1, 2020. (Record debits first, then credits. Exclude explanations from any journal entries.) Date 2020 Jan 1 Cash Journal Entry Accounts Discount on Bonds Payable Bonds Payable Debit Credit 1,911,000 189,000 2,100,000 Requirement 2. Record the semiannual interest payment and amortization of bond discount on July 1, 2020. (Record Journal Entry Accounts Debit Credit Date 2020 Jul 1 Interest Expense Discount on Bonds Payable Interest Payable Help me solve this Etext pages Get more help Requirements 1. Journalize the issuance of the bonds on January 1, 2020. - 2. Record the semiannual interest payment and amortization of bond discount on July 1, 2020. 3. Record the interest accrual and discount amortization on December 31, 2020. 4. Calculate the carrying value of the bonds payable on December 31, 2022, prior to their retirement. 5. Calculate the gain or loss on the retirement of the bonds payable on December 31, 2022. Indicate where this gain or loss will appear in the financial statements. Print Done Clear all Check answer