On January 1, 2020, JetNew, issued $1,000,000 face value, 5-year bonds with a stated rate of 5% at an effective rate of 4% which brought in $1,044,913. Interest is paid semi-annually on July 1 and December 31. JetNew uses the effective-interest method of amortization. Instructions: Prepare entries for the following transactions: a. Issuance of the bonds on January 1, 2020. b. Payment of interest and amortization of discount or premium on July 1, 2020, Paragraph B I V - Chapter 10 (Self- S pdt Solutions to E10.docx