Pershing Creations Ltd. (PCL) raised $9,500,000 by selling $10,000,000 of 5-year, 5% bonds dated January 1, 2024. PCL used part of the proceeds to pay its investment bank fees of $200,000 and related legal and accounting fees of $300,000. Interest payable is due on June 30 and December 31 each year. PCL can call the bonds on January 1, 2026 at 102. The company does exercise this privilege and redeems 60% of the bonds on the call date. The companys year end is December 31. The company is following IFRS.

Required: Prepare journal entries to correctly record the following: 1) The issuance of the bonds on January 1, 2024. 2) Payment of interest and any related amortization on June 30, 2024. 3) Payment of interest and any related amortization on December 31, 2025. 4) Re-purchase of bonds on January 1, 2026. 5) Retirement of remaining bonds on December 31, 2028, assuming that the final interest payment has already been recorded.