1. On January 1, 2020, Delgado Company issued $500,000 of 8%, 10-year bonds at par. Interest is payable quarterly on Apr

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1. On January 1, 2020, Delgado Company issued $500,000 of 8%,
10-year bonds at par. Interest is payable quarterly on April 1,
July 1, October 1, and January 1. 2. O n June 1, 2020, Kumiko
Company issued $200,000 of 10%, 10-year bonds dated January 1 at
par plus accrued interest. Interest is payable semiannually on July
1 and January 1. Instructions For each of these two independent
situations, prepare journal entries to record the following. (a)
The issuance of the bonds. (b) The payment of interest on July 1.
(c) The accrual of interest on December 31