At 31 December 20X8, Northern Resources Ltd. reports the following on its statement of financial position: Bonds payable, 5%, interest payable semi-annually on 30 June and 30 December $9,000,000 Discount on bonds payable 450,000 $8,550,000 The effective interest rate, or market interest rate, was 6% on issuance. On 1 March 20X9, 40% of the bond issue was bought back in the open market and retired at 101 plus accrued interest. The following table relates to 20x9 (numbers have been rounded) Interest Period Cash Interest reporting date(above) $225,000 2 225,000 Amortization Schedule, Effective-Interest Method: Balance Interest Premium Un amortized Carrying Amount Expense Amortization Premium of Bonds $450,000 $8,550,000 $256,500 $31,500 418,500 8,581,500 257, 445 32,445 386, e55 8,613,945 Required: Provide the entries to record: 1. Interest paid to the date of retirement on the 40% of bond retired. (If no entry is required for a transaction/event, select "No journal Required: Provide the entries to record: 1. Interest paid to the date of retirement on the 40% of bond retired. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet