Take me to the text On May 1, 2020, Ezzy Corporation issued a 5-year bond worth $418,000 with an interest rate of 5% per annum. Interest is to be paid semi-annually on October 31 and April 30. At the time of the issuance, the market interest rate was 4%. Ezzy Corporation amortizes any premium or discount using the effective interest method. Calculate the bond issue price and the resulting premium or discount. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. For transactions with more than one debit or credit, enter the accounts in alphabetical order. For bond calculations, use the PV tables in Chapter 7 of the textbook or use a financial calculator. Bond Issue Price: $ 436754 Premium or Discount: $18754 b) Prepare journal entries to record the following bonds payable transactions 1) Issuance of bonds on May 1, 2020. Date Account Title and Explanation Debit May 1 Cash 436754 Bonds Payable Credit 418000 18754 Premium on Bonds Payable To record bond issuance 2) Payment of interest and amortization of premium or discount on October 31, 2020. Account Title and Explanation Debit 8735 Date Oct 31 Interest Expense 1715 Premium on Bonds Payable Credit Cash 10450 To record first payment of interest and amortization 3) Accrual of interest and amortization of premium or discount on December 31, 2020, which is the company's year-end. Date Account Title and Explanation Dec 31 Interest Expense Debit 2912 x Premium on Bonds Payable Interest Payable To record the interest accrued on bonds payable 4) Payment of interest and amortization of premium or discount on April 30, 2021. Date Account Title and Explanation Debit Credit 3483 Credit