Question: Can you please help me on this assignment : Assume that Cactus Construction Company offers to issue bonds on January 1st of next year with

Can you please help me on this assignment : Assume that Cactus Construction Company offers to issue bonds on January 1st of next year with a $1,000,000 par value with a 8% annual interest rate (paid annually) and a 5 year

life. Also assume the market rate is 9% for similar bonds. The exact issue price of these bonds is stated at 96.1103. The bonds are unsecured but registered to the name of the purchaser. Record the accounting entry, in General Journal format, at the date of issue. Based upon the information given in question 1, record the accounting entry, in General Journal format, for the first interest payment and amortization of discount/premium

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