receives $101,088 when the bonds are issued. The transaction was recorded as follows: (Click the icon to view the transaction.) QuickFlight's journal entries to record interest expense and amortize the bond discount in the first year follows: (Click the icon to view the journal entries.) Question 3 At December 31, 2021, QuickFlight's bond accounts appear as follows: (Click the icon to view the accounts.) Question 4 What would QuickFlight Airlines' 2021 income sta Journal entries Accounts Suppose QuickFlight Airlines issued $160,000 of 8%, five-year bonds when the market interest rate is 20%. The market price of the bonds drops, and Southwes receives $101,088 when the bonds are issued. The transaction was recorded as follows: (Click the icon to view the transaction.) QuickFlight's journal entries to record interest expense and amortize the bond discount in the first year follows: (Click the icon to view the journal entries.) At December 31, 2021, QuickFlight's bond accounts appear as follows: (Click the icon to view the accounts.) What would QuickFlight Airlines' 2021 income statement and year-end balance sheet report for these bonds? Transaction Begin by completing the income statement for 2021