Question: Acc113 Question completion Status Question 1 8 points (8 Grade On 1/1/2020. Blue Company issued 5 year. 9% bonds with a par value of $500,000.

Acc113

Question completion Status Question 1 8 points (8 Grade On 1/1/2020. Blue Company issued 5 year. 9% bonds with a par value of $500,000. The company received $450,000 in cash Interest is paid say on 30 June and 31 December every year. Required: (1) Prepare the journal entry to record the bonds' issuance on 1/1/2020 (2) Prepare the journal entry to record the interest payment and the amortization of bond discount or premium on 30/6/2020 (3) Prepare the journal entry to record the repayment of bonds on 31/12/2024. CLEARLY INDICATE THE DEBITS & CREDITS Example on January 2020 XYZ Company pays $10.000 cash to purchase and Answer 11/2020 Dr Land 10,000 Cr Cash 10,000 a **

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