Barry's Big Boats Inc. issued five year bonds with a face value of $400000, and a stated interest rate of 5%. At the time of issuance the current market rate for a similar bond was 4%. Total proceeds on the issuance of the bonds was $417807. The company uses the effective interest rate method for amortizing any bond premium or discount. These bonds were issued on June 30, 2015 and pay interest annually leach June). Cash Pald/Payable Premium/Discount Amortized Interest Expense Date 30 Jun 15 Premium/Discount on Bonds Payable 17,807.00 Face Value 400,000.00 Carrying Value $417 807.00 Required a) Prepare the journal entry to record the issuance of these bonds on June 30, 2015. (2 marks) Date Account Debt Credit b) Prepare the journal entry related to the bonds on December 31, 2016. (3 marks) Date Account Debit Credit c) Prepare the journal entry related to the bonds on June 30, 2017.3 marks) Date Account Debit Credit d) After paying the annual interest on June 30, 2017 the bonds were retired for $410000. Prepare the journal entry for the early retirement of the bonds payable. Date Account Debit Credit