Entries for Bonds Payable, including bond redemption The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1, Issued $1,050,000 of five-year, 10% collable bonds dated July 1, Year 1, at a market (effective) rate of 11%, receiving cash of $1,010 428. Interest is payable semiannually on December 31 and June 30. Dec. 31. Pald the semiannual Interest on the bonds. The bond discount amortization of $3,957 is combined with the semiannual interest payment. Dec. 31. Closed the interest expense account. Year 2 June 30. Paid the semiannual interest on the bonds. The bond discount amortization of $3,957 is combined with the semiannual Interest payment. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $3,957 is combined with the semiannual interest payment. Dec. 31. Closed the interest expense account. Year 3 June 30. Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $23,744 after payment of interest and amortization of discount have been recorded. (Record the redemption only.) Required: 1. Journalize the entries to record the foregoing transactions. If an amount box does not require an entry, leave it blank or enter 'o'. When required, round your answers to the nearest dallar. Date Account Debit Credit Cash 1,010,428 Discount on bands payable 39,572 v Bonds payable 1,050,000