Testbank Exercise 120 Prepare journal entries to record the following transactions related to long-term bonds of Novak Co. On April 1, 2019, Novak issued $2,520,000, 9% bonds for $2,710,845 including accrued interest. Interest is payable annually on January 1, and the bonds mature on January 1, 2029. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit April 1 SHOW LIST OF ACCOUNTS On July 1, 2021 Novak retired $756,000 of the bonds at 102 plus accrued interest. Novak uses straight-line amortization. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to O decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit (To record interest and premium on bonds) (To record entry for retirement of bonds) Click if you would like to Show Work for this question: Open Show Work