On March 1, 2020, Fireswirl Corp. issued a $600,000, 6% two-year bond at a premium price of 104 when the market interest rate was 5% on the date of issue. Interest is payable semi-annually each September 1, and March 1.

Using the straight-line interest method, prepare the journal entries to record the following events.

1. Bond issuance on March 1, 2020:

Debit Credit

2. First interest payment on September 1, 2020:

Debit Credit

3. Second interest payment on March 1, 2018

Debit Credit

4. Payoff of bond back to bond holders (please include date):

Date Debit Credit