prepare journal entries to record the following retirements

show the computations and round to the nearest dollar

The December 31, 2021 Balance Sheet of Wolfe Co. included the following items: 7.5% Bonds Payable issued on December 31, $3,000,000 2019 at 95 Unamortized Discount on Bonds Payable as $120,000 of December 31, 2021 (2 years after issue) Bonds are to be redeemed on this date: December 31, 2029 Amortization of Bond Discount use the Straight line Method Bonds pay interest semi-annually June 30 and December 31 The amount of the original bond issue retired $600,000 or 20% of the original bonds issued by Wolfe on June 30, 2022 $600,000 Bonds redeemed at what value 101 On June 30, 2022 when Wolfe retired the bond, Wolfe prepared two entries: #1. Journal entry to record the cash payment of the bond interest owed on $3,000,000 Bonds at the semi-annual interest payment on June 30, 2022. #2 Journal entry to record the retirement of the $600,000 of the Bond Issue at 101 on June 30, 2022 Prepare both entries providing detail for all values calculated. Make sure that you indicate each journal entry by #1 or #2 as indicated above. retired $600,000 of these bonds at 101 plus the accrued interest from January 1st to March 31st