The Free Group issues $100,000 of 5% bonds on January 1, 2020 for $92,640. Interest is paid annually on December 31, and the bonds will mature on December 31, 2029 (10 years). The market yield for bonds of similar risk and maturity is 6%. Answer questions a through b for this bond issuance assuming that Free Group uses the effective interest method. A BI a. Free Group has a calendar year-end and issues financial statements as of December 31. Prepare the journal entry to record the issuance of the bonds on 1/1/2020 and other journal entry(ies) required in 2020 related to this bond issuance. Free Group uses the effective interest method. Account Debit Credit 0