Question 5 (1 point) A regular annuity will have equally-sized, equally-spaced payments at the BEGINNING of the period, and an annuity due will have equally-size, equally-spaced payments at the END of the period. True False Question 6 (1 point) A company retires its $1,000,000 face value bonds early. At the time of the bond retirement, the bonds have a remaining Discount on Bonds Payable balance of $118,700. They repurchased the bonds at a price of 103. The journal entry to record the bond retirement will include a: Debit to 'Loss on Early Retirement of Bonds' of $118,700. Credit to 'Gain on Early Retirement of Bonds' of $88,700. Debit to 'Loss on Early Retirement of Bonds' of $148,700 Debit to 'Gain on Early Retirement of Bonds' of $148,700. Question 7 (1 point) A company issues bonds with a face value of $5,000,000 and receives cash proceeds of $4,500,000 from the bond issue. The journal entry to record the bond issue will be: Dr. Cash 4,500,000 Dr. Discount 500,000 Cr. Bonds Payable 5,000,000 4,500,000 Dr. Cash Dr. Premium 500,000 Cr. Bonds Payable 5,000,000 Dr. Cash 5,000,000 Cr. Premium 500,000 Cr. Bonds Payable 4,500,000 Dr. Cash 5,000,000 Cr. Discount 500,000 Cr. Bonds Payable 4,500,000 Question 8 (1 point) If a company issues bonds at a PREMIUM, their journal entries to record bond interest expense related to the bonds will be: Dr. Interest Expense Dr. Premium on Bonds Payable Cr. Cash Dr. Interest Expense Dr. Discount on Bonds Payable Cr. Cash Dr. Interest Expense Cr. Premium on Bonds Payable Cr. Cash Dr. Interest Expense Cr. Discount on Bonds Payable Cr. Cash