Bond PP_Homework (Chapter 14) On January 1, 2021, Spartan Corp. issued at 94,4% bonds with a par value of $500,000, due in 5 years. Interest is payable semiannually on June 30 and December 31 of each year. In addition, Spartan incurred bond issue costs totaling $8,000. 4 years after the issue date, On January 1, 2025, Spartan calls the entire issue at 102 and cancels it. Spartan amortizes discounts/premiums, using the straight-line method. Required: Record the necessary journal entries on (1) January 1, 2021. (2) June 30 and December 31, 2021 . (3) January 1, 2025