Company A issued $ 6,000,000 of bonds paying 4% on January 1, 2021.

Transaction costs of $ 75,000 were incurred on this date

The bonds matures in 6 years.

Interest is paid semi-annually (June 30 and December 31)

The market rate of interest was 6% at the time of issuance

Market rate at end of 2021 is 4.5%

On December 31, 2023 Company A repurchased the bonds in the market place when the market interest rate was 7.5% For both the amortized cost method and the FV-NI method: Prepare the journal entries for 2021 and for the repurchase on December 31 2023 (you may assume the market rate at December 31, 2022 remained at 4.5%)