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The following information applies to questions 56 and 57 : On Jandary 1, Year 1, Picree Corporation issued $25,000 in 8%,5-year bonds at 102. Interest

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The following information applies to questions 56 and 57 : On Jandary 1, Year 1, Picree Corporation issued $25,000 in 8%,5-year bonds at 102. Interest payments are due each December 31. 56) What is the correct joumal entry for the bond issuance on January 1, Year 1 ? 57) What is the correet jourmal entry for the interest payment and amortization on n

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