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Disappointed by the recent early exit of VCT Berlin, Sentinels decided to invest more in building better facilities and equipment for their squad. In doing

Disappointed by the recent early exit of VCT Berlin, Sentinels decided to invest more in building better facilities and equipment for their squad. In doing so, Sentinels issued its 9%, 10-year bonds in the principal amount of $10,000,000 on December 31, 2021. Rate of similar bonds in the market at 10%. The indenture securing the issue provided that the bonds could be called for redemption in total but not in part at any time before maturity at 105% of the principal amount, but it did not provide for any sinking fund. Prepare: 1. Determine whether Sentinels issues bonds at premium/discount, and calculate the amount of premium/discount (if any) on the bonds issued. 2. Prepare all necessary Journal on 2021 3. Prepare all necessary Journal if a. Retired at December 31 2025 b. Retired at Maturity

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