Mitsudome Corporation Issued 12%, $490,000, 10-year bonds for $477,000 on June 30, 2021. Debt Issue costs were $2.400. Interestis pald semiannually on December 31 and June 30. One year from the issue date (July 1, 2022), the corporation exercised its call privilege and retired the bonds for $485,000. The corporation uses the straight-line method on to determine interest expense and to amortize premium or discount. Required: 1. to 4. Prepare the journal entry to record the issuance of the bonds, the payment of interest and amortization of premium or discount on December 31, 2021, and the call of the bonds. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record the issuance of the bonds. 2 Record the payment of interest. 2 RE Record the call of the bonds. Credit Bond X and bond Y both are issued by the same company. Each of the bonds has a maturity value of $100,000 and each matures in 10 years. Bond X pays 8% Interest while bond Y pays 9% Interest. The current market rate of interest is 8%. Which of the following is correct? Multiple Choice Both bonds sell for the same amount Bond X sells for more than bond Y. Bond Y sells for more than bond X ooo Both bonds sell at a discount