Online Class (ungraded) 1. On January 1, 2016. Agricultural credit Union Acu) issued 7%, 20 year bonds payable with face value of $600,000. The bonds pay interest on June 30 and December 31. The issue price of the bonds is 104. Joumalize the following bond transactions: a. Issuance of the bonds on January 1, 2016. b. Payment of interest and amortization on June 30, 2016. c. Payment of interest and amortization on December 31, 2016. d. Retirement of the bond at maturity on December 31, 2035. (Assume bonds payable are amortized using the straight-ine amorfization method. Record debits first, then credits. Seect explanations on the last line of the joumal entry. Round your answers to the nearest whole dollar) a. Joumalize the issuance of the bonds on January 1, 2016 Accounts and Explanation Debit Credit 2016 Cash 624,000 Jan. 1 Premium on Bonds Payable Bonds Payable 600,000 Issued bonds at a premium. b. Joumalize the payment of interest and amortization on June 30, 2016. Date Accounts and Explanation Credit Debit 2016 Interest Expense 20,400 Jun. 30 Premium on Bonds Payable Cash 21,000 Paid semiannual interest and amortized premium. bumalize the payment of interest and amortization on December 31, 2016. Accounts and Explanation Debit Credit 16 Interest Expense 20,400 31 Premium on Bonds Payable Cash 21,000 Paid semiannual interest and amortized premium. alize the retirement of the bond at maturity on December 31, 2035. ssume interest through December 3 s already been paid and recorded.)