Please elaborate on how the calculations used to find the Debit and Credit amounts for this problem:

Prepare the appropriate journal entries for each of the following transactions in 2014. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) 2. Blue Spruce Analysts purchased $366,000 of its bonds on June 30, 2014, at 101 and immediately retired them. The carrying value of the bonds on the retirement date was $359,100. The bonds pay semiannual interest and the interest payment due on June 30, 2014 has been made and recorded. Prepare the journal entry for the retirement of the bond. No. Account Titles and Explanation Debit Credit 2. Bonds Payable