In the following two independent cases, the company closes its books on December 31 : 1. Kingbird Inc, sells $1.80 million of 8% 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 10%. 2. Bonita Ltd. sells $5.00 million of 9% 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 8%. On October 1,2024 , Bonita buys back $1.00 million worth of bonds for $1.50 million, including accrued interest. 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 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.) (Round present value factor calculations to 5 decimal places, e.8. 1.25124 and final answer to 0 decimal places eg. 58,971 . Credit account titles are outomatically 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. Record joumal entries in the order presented in the problem. Llist all debit entries. before credit entries.) 3/1/24v Interest Expense Interest Payable Bonds Payable Cash 9/1/24 Interest Expense Bonds Payable Cash 12/31/24 Interest Expense Bonds Payable Interest Payable