A $354000 15-year 7% bond is ussued on January 1 for cash. Prepare the journal entries required for the Jan 1 issue and the first interest payment on June 30 under these situations (SHOW ALL CALCULATIONS) 23450S 3 4 1. Bond price was 95 6 Issue: 7 8 Debit Credit 9 D Interest payment: Debit Credit B 2. Bond price was 101 Issue: Debit Credit Interest payment: Debit Credit A bond has a carrying value of $273800 with a par amount of $272000. The call option on the bond is exercised and we pay a price of 95 for these bonds. How much gain or loss would be recorded on this retirement of debt? (show calculation)