Instructions The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: 20Y1 July Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 20Y1, at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December i and Juno 30. Pald the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Dec. 31 20Y2 Juno 30 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 31 Paid the semiannual interest on the bonds. The bond discount amortization of S261,693 is combined with the semiannual interest payment Dec 20Y3 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded (Record the redemption only) Required: 1. Journalize the entries to record the transactions. Round amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account bitles. 2. Indicate the amount of the interest expense in (a) 2071 and (b) 2072. instructions Journal ta. Journies the entries to record the 20Y1 transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account Alles PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION DERIT CREDIT POST. REF. LIABILIES EQUITY ASSETS 1 2 3 16. Journalure the entries to record the 20Y2 transactions. Refer to the Chart of Accounts for exact wording of accounties. Round all amounts to the nearest dollar PAGE 1 ACCOUNTING EQUATION JOURNAL CREDIT DEBIT ASSETS LIABILITIES EQUITY DESCRIPTION POSTRI DATE PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIBILITIES EQUITY 1 2 5 4 5 10. Journalize the entries to record the 20Y3 transactions. Refer to the Chart of Accounts for exact wording of accountiesRound all amounts to the nearest doftar. PAGE 2 JOURNAL ACCOUNTING EQUATION DEBIT POST REF CREDIT ASSETS LIABILITIES EQUITY DATE DESCRIPTION DATE DESCRIPTION POST RER DEBIT CREDIT ASSETS LABUITIES EQUITY 1 2 3 4 5 10. Journalize the entries to record the 20Y3 transactions. Refer to the Chart of Accounts for exact wording of account titles. Round al amounts to the nearest dimar PAGE JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DERIT CREDIT ASSETS LUBUTIES EQUITY 2. Indicate the amount of the interest expense in (a) 20Y1 and (b) 2012. Enter amounts as positive number. 20Y1: 20Y2: $ 3. Determine the carrying amount of the bonds as of December 31, 20Y2. $
