On May 1, 2020, Jupiter Co. issued $ 350,000,15%, 10 years bonds at face value. Interest is payable annually. Required: Prepare the entries for issuance, accrual, and payment of bond interest. (40 points) Note: Write the numbers without commas SOLUTION: (a) Issuance of the bond entry on May 1, 2020: ( 10 points) DATE May 1, 2020 ACCOUNT TITLES (b) The Accrual of interest on December 31, 2020: (10 points) DATE ACCOUNT TITLES Dec 31, 2020 DEBIT $ CREDIT DEBIT CREDIT $ 0 (c) Payment of interest on January 1, 2021: (10 points) DATE Jan. 1, 2021 ACCOUNT TITLES (d) The Accrual of interest on December 31, 2021: (10 points) DATE ACCOUNT TITLES Dec 31, 2020 $ DEBIT CREDIT $ $ DEBIT CREDIT $ $