Question: I Need help with this exercise. Exercise # 2 The Colson Company issued $400,000 of 10% bonds at 96 on January 1, 2020. The bonds

I Need help with this exercise.

Exercise # 2 The Colson Company issued $400,000 of 10% bonds at 96 on January 1, 2020. The bonds are due January 1, 2025 (5 years), with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Colson's journal entries for (a) the January issuance (b) the July 1 interest payment (c) the December 31 adjusting entry

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