1) prepare journal entry to record the payment of interest in july 1 20212) prepare the journal entry to accrue the interest expense on dec 31 2021 3) prepare the journal entry to record the payment of interest on jan 1 20224) prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 100 on jan 1 20235) prepare the journal entry to record the redemption of the bonds assuming they were redeemed at 97

On January 1, 2021, Ivanhoe Ltd. issued $430,000 of 5%, 5-year bonds. The bonds were issued to yield a market interest rate of 6%. Ivanhoe's year end is December 31. On January 1, 2023 immediately after making and recording the semi-annual interest payment, Ivanhoe redeemed the bonds. A partial bond amortization schedule is presented below. Semi-Annual Interest Interest Bond Interest Period Payment Expense Amortization Amortized Cost Jan. 1, 2021 $411,660 July 1, 2021 10,750 $12,350 $1,600 413,260 Jan. 1, 2022 10,750 12,398 1,648 414,908 July 1, 2022 10,750 12,447 1,697 416,605 Jan. 1, 2023 10,750 12,498 1,748 418,353