q14

Question 14 8 points Save Ans (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company received $900,000 in cash. Interest is paid semiannually on 30 June and 31 December every year. . Required: (1) Prepare the journal entry to record the bonds' issuance on 1/1/2020. (2) Prepare the journal entry to record the interest payment and the amortization of bond discount or premium on 30/6/2020. (3) Prepare the journal entry to record the repayment of bonds on 31/12/2024. CLEARLY INDICATE THE DEBITS & CREDITS Example on 1 January 2020. XYZ Company pays $10,000 cash to purchase land Answer 112020 Dr Land 10 000 Cr Cash 10 000 For the toolbar, press ALT-F10 (PC or ALT-FN-F10 (Mac). BI U S Paragraph Arial T TT ABC - +] - s 1