Question #9 - 4 marks - 12 minutes On March 1, 2020, LWD Company issues a bond with a face value of $2,000,000. The bond is a 10-year 5% bond. The market rate of interest is 9%. Because the market rate is higher than the bond rate, the bonds issue at a discount. The bond quote is: 73.98. The bonds pay interest semiannually. Interest dates are March 1 and September 1. The company's fiscal year end is December 31 The company's accountant uses the information above and produces the following effective interest table Semi- annual interest Period A Interest Payment B Interest Expense D Discount Discount Amortization Account (B-A) Balance (D-C) Bond ($ D) Discount) 1-Mar-20 1-Sep-20 1-Mar-21 1-Sep-21 50,000 50,000 50,000 66,586 67,332 68,112 16,586 17,332 18,112 520,317 1,479,683 503,732 1,496,268 486,400 1,513,600 468,288 1,531,712 Required: a.) Record the journal entry for the issuance of the bond. (March 1, 2020) (1 mark) b.) Record the journal entry for the first interest payment. (September 1, 2020) (1 mark) c.) Record the year-end adjusting journal entry. (December 31, 2020) (1 mark) d.) Record the journal entry for the second interest payment. (March 1, 2021) (1 mark) NOTE: YOU DO NOT NEED TO COPY THIS BOND TABLE - YOU ONLY NEED TO DO THE JOURNAL ENTRIES