Question: 1. Downing Company issues $1,000,000, 10%, 10-year bonds dated January 1, 2020 on February 1, 2020 for 110. The bonds pay interest semiannually on June

1. Downing Company issues $1,000,000, 10%, 10-year bonds dated January 1, 2020 on February 1, 2020 for 110. The bonds pay interest semiannually on June 30 and December 31. a) Prepare the journal entry to record the sale of the bond b) Using the straight line method, prepare the journal entry to record the interest payment on June 30

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