Question 2 North Company issued $80,000 of 12%, 10-year bonds on January 1. Interest is payable semiannually on June 30 and December 31. The bonds were sold at 105 ($100 par value bond was sold for $105). South Company issued 80,000 of 11%, 10 year bonds on January 1. Interest is payable semiannually on June 30 and December 31. The bonds were sold at 95. Prepare journal entries to record all transactions during the year for (Jan. 1, June 30, December 31) (a) the North Company bond issue and (b) South Company bond issue. Assume that both companies amortize bond discount or premium by the straight-line method at each interest payment date