On January 1, 2020, Ashford Corporation issued five-year, 10\%, bonds payable with a face value of $2,400,000. The bonds were issued at 92 and pay interest an January 1 and Jidy 1. Ashiford amortizes bend discounts using the straight line method. On December 31, 2022, Ashford retired the bonds eady by purchasing them at a matket price of 94 . The compary's fiscal year ends on December 31 Read the requirements Requitement 1. Joumalize the issuance of the bonds on January 1.2020. (Record debits fist, then credits Excluife explanations from any poumal entries) 1. Journalize the issuance of the bonds on January 1,2020. 2. Record the semiannual interest payment and amortization of bond discount on July 1, 2020 3. Record the interest accrual and discount amortization on December 31, 2020. 4. Calculate the carrying value of the bonds payable on December 31,2022 , prior to their retirement. 5. Calculate the gain or loss on the retirement of the bonds payable on December 31,2022. Indicate where this gain or loss will appear in the financial statements