Marin Ltd. sold $6,120,000 of 12% bonds, which were dated March 1, 2020, on June 1, 2020. The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1, 2030, and the bonds were issued to yield 14%. Marin's fiscal year-end was February 28, and the company followed IFRS. On June 1, 2021, Marin bought back $2,120,000 worth of bonds for $2,020,000 plus accrued interest.

1- Using 1. a financial calculator, or 2. Excel function PV, calculate the issue price of the bonds and prepare the entry for the issuance of the bonds. (Hint: Use the account Interest Payable in your entry). (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) There are supposed to be 3 entries for this part.

2- Prepare the journal entry for the scheduled interest payment on September 1, 2020. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) There are supposed to be 4 entries for this part.

3- Prepare any year-end entry required at February 28, 2021. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) There are supposed to be 3 entries for this part.

4- Prepare the entry required for the redemption of face value $2,120,000 of the bonds on June 1, 2021. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) There are supposed to be 4 entries for this part.