Bonds Payable -Supplement On January 1, 2018, United Glue Inc. issued 10 year, $1,000,000 Bonds Payable at 1.0817 (see table below) Interest is payable semiannually on January 1 and July 1 at a coupon or stated rate of 5%. On June 30, 2021 the company retires the bonds at 98 plus accrued interest United uses the effective interest method for amortizing bond discount or premium. The bonds were sold to provide a yield of 4% Instructions: Provide the entries for 1. The issuance of the bonds on January 1, 2018 2. The adjusting journal entry on June 30, 2018 for interest accrued and any bond amortization. 3. The entry on July 1, 2018 for the payment of interest 4. The adjusting entry on December 31, 2018 for interest accrued and any bond amortization. 5. The entry on January 1, 2019 for the payment of interest 6. The adjusting entry on June 30, 2021 for accrued interest and any amortization of bond premium or discount 7. The retirement of the bonds on June 30, 2021 (you will need to complete table below through June 30, 2021) Interest Paid Interest Premium Year Expense 2% Amortized 2% | Amortized Premium | Carrying Value 2.5% $81,756 $ 1,081,756 21,635 S 30/ 2018 25,000 5,000 78,391 I 1,078,391 1,074,959 568 432 /30/2020 2021 6/30/2023 12/81/2025 202