On January 1, 2018, Alpha Company issued $300,000, 15 year, 10%, semi-annual, callable bonds for $306,000. On December 31, 2021, Alpha Company redeemed the bonds at 103.

REQUIRED:

1. Prepare the Journal Entry to record the Issuance of the Bond

2. Determine the amount of the Discount/Premium that is still not amortized (using the Straight-Line Method)

3. Prepare the Journal Entry to record the Retirement (Redemption) of the Bond.