Sunland Company issued $780,000, 8%, 10-year bonds on December 31, 2019, for $710,000. Interest is payable annually on December 31. Sunland Company uses the straight-line method to amortize bond premium or discount.

Sunland Company issued $780,000, 8%, 10-year bonds on December 31, 2019, for $710,000. Interest is payable annually on December 31. Sunland Company uses the straight-line method to amortize bond premium or discount. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Cash 710000 Discount on Bonds Payable 43000 Bonds Payable 780000 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Interest Expense 8000 Discount on Bonds Payable 5375 Cash 62400 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. (Credit account titles are automatically indented when amount is enter Date Account Titles and Explanation Debit Credit Dec. 31, 2029 Click if you would like to Show Work for this question: Open Show Work