14-9 On 1/1/2017 Shay issues $800,000, 10 %, 15-year bonds at 97 3/4. Six years into the life of the bonds, on January 1, 2023, Shay retires 20% of these bonds on the open market at 104 1/2. The straight-line method is used to amortize the discount. 1. How much does the company receive when it issues the bonds on 1/1/2017? 2.What is the amount of the discount on the bonds at January 1, 2017? 3. How much of the discount is recorded on the bonds for the entire period from January 1, 2017 through December 31, 2022? 4. What is the carrying value (book value) of the bonds as of the close of business on December 31, 2022? 5. How much did the company pay on January 1, 2023 to purchase the bonds that it retired? 6. What is the amount of gain or loss from retiring the bonds? 7. Prepare the journal entry to record the bond retirement on January 1, 2023