please explain in detail

5 On January 1, linovative Solutions, Incorporated, issued $260.000 in bonds at face value. The bonds have a stated interest rate of 6 percent. The bonds mature in 10 years and pay interest once per year on December 31 Required: 1,26 3. Prepare the required journal entries to record the bond issuance, wterest payment on December 31, eatly retrement of the bonds. Assume the bonds were retired immediately after the first interest payment at a quoted price of 101 (if no entry is required for a transaction event, select "No Journal Entry Required in the first account field) View transaction Journal entry worksheet > Record thence of bonds of $200,000 toe he Cenerala Delt Credit required for a transaction/event, select "No Journal Entry Required in the first account field.) 07 5 View transaction list 12 points Journal entry worksheet eBook Peint Record the interest payment on December 31 References Note: Enter debits before credits General Journal Debit Credit Date December 31 Record entry Clear entry View general Journal bonds. Assume the bonds were retired immediately after the first interest payment required for a transaction event, select "No Journal Entry Required" in the first account field.) 5 View transaction lit 12 bons Journal entry worksheet