Question ( Grades) On 1/1/2020 Blue Company issued 5-year 8% bonds with a par value of $400,000. The company received $320.000 inch. We wow away 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 January 2020, XYZ Company pays $10,000 cash to purchase and Answer 112020 Dr Land 10,000 C Cash 10,000