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Entries for bende parable, including bond redemption The following transactions were completed by Montague inc, whose fiscal year is the calendar year: 2 0 1

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Entries for bende parable, including bond redemption
The following transactions were completed by Montague inc, whose fiscal year is the calendar year:
2011
July 1. Issued $55,000,000 of 10-year, 9% callable bonds dated July 1,20Y1, at a market (effective) rate of 7%, receiving cash of $62,817,040. Interest is payable semiannually on December 31 and June 30.
December 31. Paid the semiannual interest on the bonds. The bond premium amortization of $390,852 is combined with the semiannual interest payment.
20Y2
lune 30. Paid the semiannual interest on the bonds. The bond premium amortization of $390,852 is combined with the semiannual interest payment.
December 31. Paid the semiannual interest on the bonds. The bond premium amortization of $390,852 is combined with the semiannual interest payment.
2013
June 30. Recorded the redemption of the bonds, which were called at 103. The balance in the bond premium account is $6,253,632 after payment of interest and amortization of premium have been recorded. (Record the redemption only.)
Journalize the entries to record the foregoing transactions. If an amount box does not require an entry, leave it blank. When required, round amounts to the nearest dollar.
2 or1 July 1
||
Dec. 31=
20 lune 30
Dec. 31
20 J June 30
P
Indicate the amount of the interest expense in (a)20r1 and (b)20rz.
201
2012
Determane the corrying amount of the bonds as of December 31,20Y2.
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