Q3: On September 1, 2002, Enjoy Toys Company issued $10 million in 10-year, 12% debenture bonds. Interest is payable semiannually on March 1 and September 1. Bond discounts and premiums are amortized by the straight-line method at each interest payment date and at year-end. The companys fiscal year ends at December 31. Required: 05 a. Make the journal entry to record the issuance of bonds, if bonds were issued at 95. b. Make the necessary adjusting entries at December 31, 2002, and the journal entry to record the payment of bond interest on March 1, 2003. c. Compute the net bond liability at December 31, 2003. d. Prepare the ledger for bond discount for first two years.