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X Corporation borrowed money by issuing $500,000 of bonds at 98 on January 1,2022. The bonds pay interest on January 1 and July 1 .

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X Corporation borrowed money by issuing $500,000 of bonds at 98 on January 1,2022. The bonds pay interest on January 1 and July 1 . The stated rate of interest is 5% and the bonds mature in 10 years. Any discount or premium is amortized using the straight-line method. Required: Prepare journal entries on the following dates: 1. January 1,2022. 2. July 1, 2022. 3. December 31,2022 , the fiscal year end. 4. January. 1, 2023. 5. January 1,2032. Omit explanations

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