How would the amount of the loss calculated in part $($a$)$ differ if Oriole's policy had been to carry the bonds at fair value and thus expense the costs of issuing the bonds at January $2,2018?$ Assuming that Oriole had followed this policy, prepare the journal

entry to record the retirement. Assume the redemption price approximates fair value. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for

the amounts. List debit entry before credit entry.$)$The bonds are callable at $105($that is$,$ at $105\%$ of their face amount$),$ and on January $2,2023,$ the company called a face amount of $$1,200,000$ of the bonds and retired them.

$($b$)$

How would the amount of the loss calculated in part $($a$)$ differ if Oriole's policy had been to carry the bonds at fair

value and thus expense the costs of issuing the bonds at January $2,2018?$ Assuming that Oriole had followed this

policy, prepare the journal entry to record the retirement. Assume the redemption price approximates fair value.

ONLY $2$ JOURNAL ENTRIES