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On January 1, 2021, EKM Enterprise received $1,900,000 for the issuance of $2,000,000 5%, 20-year bonds when the market interest rate was 6.25%. The Company

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On January 1, 2021, EKM Enterprise received $1,900,000 for the issuance of $2,000,000 5%, 20-year bonds when the market interest rate was 6.25%. The Company pays interest on a semi-annually basis. The Company amortizes its bond premiums and discounts using straight-line basis. Record the bond issuance and first interest payment. Be sure to include the description of the journal entry and dates. (8 points) I General Journal Debit Credit

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