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Girodat Company issued $1,000,000,8%,10-year bonds on December 31,2020 , for $960,000. Interest 5. (22 pts) Accounting for Bonds is payable annually on December 31. Girodat uses the straight-line method to amortize bond premium I discount. a. Prepare the journal entry to record the issuance of the bonds. b. Prepare the journal entry to record the payment of interest and the amortization on December 31,2021. c. What is the carrying (i.e., book) value of the bonds at the end of the second year (December 31, 2022)? d. Prepare the journal entry to record the redemption of the bonds at maturity; assuming interest for the last interest period has been paid and recorded. e. What is the total cost of borrowing for the bonds? Girodat Company issued $1,000,000,8%,10-year bonds on December 31,2020 , for $960,000. Interest 5. (22 pts) Accounting for Bonds is payable annually on December 31. Girodat uses the straight-line method to amortize bond premium I discount. a. Prepare the journal entry to record the issuance of the bonds. b. Prepare the journal entry to record the payment of interest and the amortization on December 31,2021. c. What is the carrying (i.e., book) value of the bonds at the end of the second year (December 31, 2022)? d. Prepare the journal entry to record the redemption of the bonds at maturity; assuming interest for the last interest period has been paid and recorded. e. What is the total cost of borrowing for the bonds

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