On January 1, 2015, Judd Company sold $1,000,000 in long-term bonds. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%. The bonds pay interest annually on January 1st of each year. The bonds are to be accounted for under the effective-interest method. On December 31, 2021, we redeemed $650,000 of the bonds described in transaction #1 at 102, after all other entries associated with the bonds have been recorded.