In the following two independent cases, the company closes its books on December 31:

1.		Metlock Inc. sells $1.87 million of 8% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The bonds’ due date is September 1, 2023. The bonds yield 10%.
2.		Bonita Ltd. sells $5.90 million of 9% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The bonds’ due date is June 1, 2024. The bonds yield 8%. On October 1, 2021, Bonita buys back $1.18 million worth of bonds for $1.96 million, including accrued interest. Prepare all of the relevant journal entries from the time of sale until the date indicated. For situation 1, prepare the journal entries through December 31, 2021. Assume that no reversing entries were made. Use the amounts arrived at from using (1) factor tables, (2) a financial calculator, 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 calculating.) For situation 1, prepare any necessary original amortization tables. (Hint: Prepare all of the relevant journal entries from the time of sale until the date indicated. For situation 2, prepare the journal entries through December 31, 2022. Assume that no reversing entries were made. Use the amounts arrived at from using the financial calculator. Use the effective interest method for discount and premium amortization. (Hint: Refer to Chapter 3 for tips on calculating.) (For calculation purposes, use 5 decimal places as displayed in the factor table provided and final answers to 0 decimal places, e.g. 5,275. 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 0 for the amounts.)Refer to Chapter 3 for tips on calculating.) (Round answers to 0 decimal places, e.g. 5,275.) For situation 2, prepare any necessary original amortization tables. (Hint: Refer to Chapter 3 for tips on calculating.) (Round answers to 0 decimal places, e.g. 5,275.) there is no present value table we have to calculate . this is whole question