Question: BOND PAYABLE PRACTICE PROBLEM 49er Company issues $100,000 in 10 year, 7% annual bonds at 97 on March 1, 2020. Each $1,000 bond pays interest

BOND PAYABLE PRACTICE PROBLEM 49er Company issues $100,000 in 10 year, 7% annual bonds at 97 on March 1, 2020. Each $1,000 bond pays interest on February 28 each year, starting in 2021. 49er uses the effective interest method to amortize any bond premiums or discounts. 19er extinguishes 25 of the bonds on March 1, 2022 using open market transactions. 49er paid 975 to purchase and retire the bonds. Provide all journal entries for the bonds through December 31, 2022

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