5 The long-term liablity section of Twin Digital Corporation's balance sheet as of December 31, 2017, included 10% bonds having a face amount of $40 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 12%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2018, Twin Digital retired the bonds at 102($40.8 million) before their scheduled maturity Required: 1. & 2. Prepare the necessaryjournal entries for Twin Digital on July 1, 2018(H no entry is required for a transaction/event, select"No journal entry required" in the first account field. Enter your answers in whole dollar.) Journal entry worksheet amount of $40 million and a remaining discount of $1 million. Disclosure notes indicate t the bonds were issued to yield 12%. interest rate and paid on January 1 and July 1 of each year On July 1, 2018, Twin Digital retired the bonds at 102 ($40.8 million) before their scheduled maturity. I entry required" in the first account field. Enter your answers in whole dollar.) July 01, 2018 Clear entry