Case two:

$(17$ marks$)$

Resto Corporation has authorized to issue $$4,500,000$ of its $9\%,5-$year bonds On January $1,2019,$ when the effective interest rate $6\%.$ The bonds interest is semiannually on July $1,$ and January $1.$ On march $31,2021$ purchased $1,500,000$ $ of its issued bonds on the open market at $$1,640,000$ for interest and bonds and cancelled them. Resto uses the effective interest rate method for amortization of bond premiums and discounts.

Required:

$?$Journalize the bonds issued $-1$

$2-$ Journalize all interest entries during $2019?$

$4-$ Journalize the entry for redemptions of bonds on March$31,2021$ and entries at $31,$ December $2021$