Rockwood Company issued $400,000 of 11% bonds on November 1, 2019, at 103. Interest on the bonds is payable on November 1 and May 1 of each year, and the maturity date is November 1, 2029. Rockwood retired bonds with a face value of $80,000 on February 1, 2021, at 98 plus accrued interest. Rockwood uses straight-line amortization and reverses any calendar year-end adjusting entries. Required: 1. Prepare the journal entry to record the issuance of the bonds on November 1, 2019. 2. Prepare all the journal entries to record the interest expense during 2020. 3. Prepare the journal entries to record the retirement of $80,000 of the bonds on February 1, 2021. ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 436 Gain on Bond Redemption 141 Inventory 152 Prepaid Insurance EXPENSES 181 Equipment 500 Cost of Goods Sold 198 Accumulated Depreciation 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense LIABILITIES 211 Accounts Payable 224 Interest Payable 540 Interest Expense 231 Salaries Payable 541 Depreciation Expense 250 Unearned Revenue 559 Miscellaneous Expenses 255 Bonds Payable 892 Loss on Bond Redemption 256 Premium on Bonds Payable 910 Income Tax Expense 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings Prepare the journal entry to record the issuance of the bonds on November 1, 2019. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT Prepare all the journal entries to record the interest expense during 2020. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT Prepare the journal entries to record the retirement of $80,000 of the bonds on February 1, 2021. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT