flint,inc had outstanding $5460000 of 11% bonds(interest payable july 31 and january 31) due in 10 years. on july 1, it issued $9750000 of 10%,15-year bonds(interest payable july 1 and january 1) at 97. a portion of the proceeds was used to call the 11% bonds(with unamortized discount of $109200) at 102 on August 1.

prepare journal entries necessary to record issue of the new bonds and the refunding of the bonds