Question: q2 Question 2 8 points Save Answer (8 Grades) On 1/1/2020. Blue Company issued 5-year, 9% bonds with a par value of $500,000. The company

q2 Question 2 8 points Save Answer (8 Grades) On 1/1/2020.

Question 2 8 points Save Answer (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 30/6/2020 (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: 1/1/2020 Dr. Land 10,000 Cr. Cash 10.000 For the toolbar race NLT_C10 DC or MITEN PA

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