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please answere both parts On January 1, 2020. Falion Company issued 5 year bonds with a tece value of 5000.000. The bonds have a contract
please answere both parts On January 1, 2020. Falion Company issued 5 year bonds with a tece value of 5000.000. The bonds have a contract rate AND pay interest annually on January 1 The fiscal year and is December 31 Instruction to detections Assume the bonds are issued at $5 and interest is paid annually on January 1. Prepare jounal entries to record the () issuance of the bonds. (b) accrual of interest on the bonds and amortization on December 31, 2020, and (c) payment of interest on any 12021 10 pont Arne the bonds are sodat 102 and interestis poiday on December 31 Prepare journal entries to record the absence of the bonds, accrual interest of the bonds and amortization on December 31, 2020, and (c) payment of interest on January 1, 2021 10 points 2
please answere both parts
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