help please and if you can explain that will be fantastic.

Required information The following information applies to the questions displayed below.) On January 1, 2021, Splash City issues $310,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $276,900. equired: Using an amortization schedule, show that the bonds have a carrying value of $278,550 on December 31, 2022. (Round Interest pense to nearest whole dollar.) Cash Paid Interest Expense Increase in Carrying Value Carrying Value Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 On January 1, 2021, Splash City issues $310,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $276,900. 2. If the market interest rate drops to 6% on December 31, 2022, it will cost $310,000 to retire the bonds. Record the retirement of the bonds on December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate calculations to the nearest whole dollar amount.) View transaction list Journal entry worksheet Record the retirement of the bonds. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2022