Prepare journal entries to record the following transactions relating to long-term bonds of EMCC, Inc (show computations.) On June 1, 2017, BMCC inc issued $8,000,000 6 % bands for $7, 841,000, which includes accrued .Interest is payable semiannually on February 1 and August 1 with the bond maturing on February 1. 2027. The bonds are callable at 102. On August 1, 2017, BMCC paid interest on the bonds are recorded Kirby use straight line On February 1, 2019, BMCC paid interest and recorded on all of the bonds, and purchased 55,000,000 of the bonds at the tall price. Assume that a reversing entry was made on January 1, 2019. Prepare the necessary journal entries to record the following transactions relating to the long, item issuance of bonds of PA Co. Issue 54,000,000 face value PA Co second mortage 8 % bonds for 54, 360, 800 including accrued interest. Interest is payable semiannually on December 1 and June 1 with the bonds maturing 10 years from this past December 1. The bonds are at 102 Paid semiannual interest on PA Co, bonds (Use straight-line of any premium or discount. Paid semiannual interest on PA Co. bonds and purchased $2,000,000 face value bonds at the cal price in accordance with the provisions of the bond