On January 1, 2020, Miron Ltd. issues a floating rate bond for $ 500,000. At the same time, the corporation enters into an interest rate swap whereby it agrees to pay interest on $ 500,000 at 10% (the current interest rate) and to receive payments based on the floating rate. At December 31, 2020, the floating interest rate is 8%, and the value of the swap contract is $ 40,000 to the counterparty’s benefit. Prepare any journal entries required related to the swap agreement and the interest payment on the bond. a) January 1, 2020 b) December 31, 2020 – interest payment on the bond c) December 31, 2020 –Payment of swap interest (net) d) December 31, 2020 –Record swap contract asset/liability.