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Use the following information for problem #7-8 Spicier Company sold 12% bonds with a maturity value of $600,000 on January 1, 2020. The bonds were sold for $645,489 and provided bondholders with a 10% yield. The bonds are dated January 1, 2020, and mature January 1, 2025, with annual interest payment on December 31 of each year. Spicier Company allocates interest and unamortized discount or premium on the effective-interest basis. 7) Prepare the journalentry on Spicier's books to record the bond issuance 8] Prepare the journal entry to record the accrual of interest for 2020