Entries for Bonds Payable, including bond redemption The followng transactlons were completed by Montague Inc, whose fiscal year is the calendar year: 20rt July 1. 1ssued $55,000,000 of 10 -yeac, 9% callable bonds dated July 1, 20Y1, at a market (elfective) rate of 7%, receiving cash of $62,817,040. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. The bond premium amortization of $390,852 is combined with the semiannual interest payment. 20r2 June 30. Paid the semiannual interest on the bonds. The bond premium amortization of $390,652 is combined with the semlannual interest payment. Dec. 31. Paid the semiannual interest on the bonds. The bond premium amortization of $390,852 is combined with the semiannual interest parment. 2013 June 30, Recorded the redemption of the pondt, which were called at 103 . The balance in the bond premium account is 56,253,632 after payment of interest and amortisation of premium have been recorded. (Record the redemption only.) 2. Indicate the amount of the interest expense in (a) 20Y1 and (b) 20Yz. a. 20Y1 b. 20%2 3. Determine the carring arnount of the bonds as of December 31,20Y2