The bourd of directors of Martin Production Co. Ltd. authorwes the issuance of 10 percent, 10-year bends with a maturity vatue of $16,000,000. The semisannual hiternst dates are Msy 31 and November 30. The bends are issued through an underwriter on June 30, 2020, at par plus accrued interest from June 1, 2020. Martin's year end is Decentiber 31 , Bocuired Required s from journal entries, Round amounts to the nearest dolitar.) 1. Jeurnalize the following transections: a. Issuance of the bends on June 30,2020 . b. Payment of interest on Nowember 30, 2020. c Accrual of interest on December 31, 2020. d. Payment of interest on May 31, 2021. 2. Report inlerest payable and bonds payable as they would appear on the Martin Production Co, Ltd. bslance sheet at Decentber 31, 2020. 3. Why do we need to accrue interest on June 30 and again on Decerrber 31 , twice in 2020 ? a. Issuance of the bonds on June 30,2020 . b. Payment of interest on November 30, 2020. c. Accrual of interest on December 31,2020 . d. Payment of interest on May 31, 2021. Requirement 2. Report interest payable and bonds payable as they would appear on the Martin Production Co. I Requirement 3. Why do we need to acerue interest on June 30 and again on December 31, twice in 2020