Entries for Bonds Payable, including bond redemption The following transactions were completed by Winklevoss Inc, whose frucal year is the calendar year Year 1 July 1. Issued $7.940,000 of five-year, 6% callable bonds dated July 1 Year 1, at a market (effective) rate of 8%, receiving cash of $7,295,993. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $64,401 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 $64,401 is combined with the semiannual interest payment. Dec. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $64.401 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 $396.405 after payment of interest and amortization of discount have been recorded. (Record the redemption only.) 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 dollar. Date Account Debit Credit Year 1 July Cash Discount on bonds payable v Honds payable Dec 31-Bond Interest expense Discount on bonds payable Cash Dec. 31-Closing Income summary Interest expense Year 2 June 30 Interest expense Discount on bonds payable Cash Dec 31-Bond Interest expense Discount on bonds payable Cash Dec. 31-Closing Income summary Interest expense