Question: Moving to another question will save this response. Question 1 (8 Grades) On 1/1/2020, Blue Company issued 5-year, 9% bonds with a par value of

Moving to another question will save this response. Question 1 (8 Grades) 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 semiannually 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 30/5/2020. (3) Prepare the journal entry to record the repayment of bonds on 31/12/2024

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