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I dont Know where I went wrong at please help with the Journal Entry for Part 2: Required information Exercise 9-20 (Algo) Record the early

I dont Know where I went wrong at please help with the Journal Entry for Part 2: image text in transcribed
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Required information Exercise 9-20 (Algo) Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below] On January 1,2024 . White Water issues $480,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The morket interest rate on the issue date is 5% and the bonds issued at $540,247. Exercise 920( Algo) Part 1 Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $534,537 on December 31,2026 . (Round your finat answers to the nearest whole dollar.) Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $534,537 on December 31,2026 . (Round answers to the nearest whole dollar.) Required information Exercise 9-20 (Algo) Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below] On January 1, 2024, White Water issues $480,000 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 5% and the bonds issued at $540,247 Exercise 9.20( Algo) Part 2 2. If the market interest rate increases to 7% on December 31,2026 , it will cost $432,718 to retire the bonds. Record the retirement of he bonds on December 31, 2026. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) 2. If the market interest rate increases to 7% on December 31,2026 , It will cost $432,718 to retire the bonds. Record the retirement of the bonds on December 31, 2026. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.)

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