1.ABC Inc. issued $10,000,000 worth of bonds on January 1^st, 2018. The bonds mature on December 31^st, 2022 and carry a coupon rate of 8% payable semi-annually on June 30^th and December 31^st of each year. A market interest rate of 6 % was effective throughout 2018. Required: a) Were the bonds issued at a premium or a discount? _____________________ b) Prepare all journal entries required during 2018. c) Assume that on January 1^st 2019, ABC decided to retire half of the bonds for $5,200,000 in cash. Prepare the required journal entry.

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