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On June 1 2019, Gator Corporation Issued $700,000, 6%, 10 year bonds at face value. Interest is payable annually on June 1. Gator Corporation has

On June 1 2019, Gator Corporation Issued $700,000, 6%, 10 year bonds at face value. Interest is payable annually on June 1. Gator Corporation has a calendar year end.

a. Show the balance sheet presentation of the bonds and any related accounts on December 31, 2019.

b. Prepare the journal entry for the interest payment on June 1 2020.

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