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Prepare the journal entries for the following transactions of Levin Corporation. January 1, 2021: Levin Corporation issued $200,000 of 6%, 4-year bonds at 95. Levin

Prepare the journal entries for the following transactions of Levin Corporation.

January 1, 2021: Levin Corporation issued $200,000 of 6%, 4-year bonds at 95. Levin Corporation will pay interest annually on January 1.

December 31, 2021: Record interest for 2021.

January 1, 2022: Payment of interest.

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