On March 1, 2019, Face Corporation issues 5-year bonds, dated January 1, 2019, with a face value of $200,000. These bonds have an annual interest rate of 10%, payable semiannually on January 1 and July 1. The effective interest rate is 8%. The fiscal year ends on December 31. (rounding up to the nearest dollar)
1. Prepare the journal entry to record the bond issuance plus accrued interest on March 1, 2019. (Use effective interest method)
2. Prepare the journal entry to record the payment of interest and related amortization on July 1, 2019. (Use effective interest method)
3. Prepare the journal entry to record the payment of interest and related amortization on December 31, 2019. (Use effective interest method)

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