For situation 1. prepare the journal entries through December 31, 2024 . Assume that no reversing entries were made Use the amounts arrived at from using (1) factor tables, (2) a financial caiculator, or (3) Excel function PV from the time of sale until the date indicated. Use the effective interest method for discount and premium amortization. (Hint Refer to Chapter 3 for tips on calculatine) (Round present value factor calculations to 5 decimal places, es. 1.25124 and final answer to 0 decimal places es. 58.971. Credit account tities are outomotically indented when the arnount is entered. Do not indent manualily. If no entry is required, select "No Entyy for the occount titles and enter ofor the omounts. Record joumal entries in the order presented in the phbiem, List all debit entries beforecredit entries.) 3/1/23v Cash Bonds Payable 3/1/23 Interest Expense Bandi Payable Cash 12/31/23 Imenestixpense Bonds Payable interstpryable V124 interet sopense 1915292 1915: Interest Expense Interest Poyable Bonds Payable Cash 9/1/24 Intereut Expense Bonds Payable Cash 12/31/24 ietereat Expense Bonds Pavable Interest Pardole In the following two independent cases, the company closes its books on December 31 1. Armstrong inc sells $2.00 million of 10% bonds on March 1, 2023. The bonds pay interest on September 1 and March 1. The bonds' due date is September 1, 2026. The bonds yield 12%. 2. Ouelette Ltd. sells $6.00 million of 11% bonds on June 1, 2023. The bonds pay interest on December 1 and June 1. The bonds' due date is June 1.2027. The bonds yield 10% On October 1,2024 , Ouelette buys back $1.20 million worth of bonds for $1.40 milion, induding accrued interest. click here to view the factor table PRESENT VALUE of 1