) On January 1, 2020, Northern Air, issued $2,000,000 face value, 5-year bonds with a stated rate of 4% at an effective rate of 5% which sold at 95. Interest is paid semi-annually on July 1 and January 1. Northern Air uses the effective-interest method of amortization. Northern Air has a December 31 year-end. Prepare the journal entry for the initial sale of the bond and the first two interest transactions. (5)

Date	Account	Debit	Credit