On January 1, 2020, Ownbey Corporation issued $4,000,000,8%, 5-year bonds dated January 1, 2020, at 96. The bonds pay annual interest on January 1. The company uses the straight-line method of amortization and has a calendar year end. Instructions: A. Prepare the journal entries that Ownbey Corporation would make related to the bonds to: 1) Record the issuance of the bonds on Jan 1, 2020; 2) Record the accrue interest payable and amortization of the premium or discount on Dec 31; and 3) Record the payment of the interest on January 1, 2021