Question: Moving to another question will save this repones Question 2 (Grade On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000.

Moving to another question will save this repones Question 2 (Grade On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of $1,000,000. The company received $900,000 in ca 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 306/2020 (3) Prepare the journal entry to record the repayment of bonds on 31/12/2024 CLEARLY INDICATE THE DEBITS & CREDITS Example: on 1 January 2020, XYZ Company pays $10,000 cash to purchase land Answer 3/3/2020 Dr. Land 10,000 Cr. Cash 10.000

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