prepare journal enteries for the following four evets (use straight- line amortization)

01/01/07 The def co issued $100,000, six year bonds, carrying a coupon rate of ten percent (10%), interest payable annually on december 31 each year. The bonds were issued at an effective yield (market rate) of seven percentage (7%). assume that the net proceeds from the bond by 12,000

12/31/07 Recognize the first interest payment

12/31/8 Recognize the second interest payment

01/01/09 redeem (i.e., buy back) twenty percent (20%) of the bonds oustanding for 18,500