On January 1, 2020, Delaney Corporation issued five-year, 4% bonds payable with a face value of $2,400,000. The bonds were issued at 89 and pay interest on January 1 and July 1. Delaney amortizes bond discounts using the straight-line method On December 31, 2022, Delaney retired the bonds early by purchasing them at a market price of 94. The company's fiscal year ends on December 31. Read the featuremena MC Discount on Bonds Payable Bonds Payable 264.000 2,400,000 Requirement 2. Record the semiannual interest payment and amortization of bond discount on July 1, 2020. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit 2020 Interest Fynense Requirements 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. Requirement 4. Calculate the carrying value of the bonds payable on December 31, 2022, prior to their retirement The carrying value of the bonds payable on December 31, 2022, prior to their retirement is Requirement 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 th financial statements. (Enter a loss with a minus sign or parentheses.) Amount of gain (loss) Reported as Reported on the