Prepare journal entries to show the accrual of interest at year-end, payment of the semi-annual interest, and at the retirement of the bonds

face value of 240,000,000 with 8.5%

market rate of 10.9% 5 year bonds semi annual interest. Please show calculations on journal entries

12/31- Accrual Interest

1/31/21- Payment of Interest

7/31/21- Payment Interest

12/31/21- Accrual of Interest

1/31/22- Payment of interest

7/31/22- Payment of interest

12/31/22- Accrual of interest

1/31/23- Payment of interest

7/31/23- Payment of interest

12/31/23- Accrual of interest

1/31/24- Payment of interest

7/31/24- Payment of interest

12/31/24- Accrual of interest

1/31/25- payment of interest

1/31/25- Payment of interest

7/31/25- Retirement

Cash Effective Increase in Outstanding Payment Interest Balance Balance 1-Aug-20 $218,239,479.79 31-Jan-21 $10,200,000 's 11,894,052 '$ 1,694,052 "$219,933,531.44 31-Jul-21 $10,200,000 "$ 11,986,377 '$ 1,786,377 '$221,719,908.90 31-Jan-22' $10,200,000 $ 12,083,735 '$ 1,883,735 $223,603,643.93 31-Jul-22$10,200,000 "$ 12,186,399 '$ 1,986,399 '$225,590,042.53 31-Jan-23 $10,200,000 "$ 12,294,657 'S 2,094,657 "$227,684,699.85 31-Jul-23 $10,200,000 $ 12,408,816 '$ 2,208,816 $229,893,515.99 31-Jan-24' $10,200,000 '$ 12,529,197 '$ 2,329,197 '$232,222,712.61 31-Jul-24 $10,200,000 '$ 12,656,138 '$ 2,456,138 "$234,678,850.45 31-Jan-25 $10,200,000 '$ 12,789,997 '$ 2,589,997 '$237,268,847.80 31-Jul-25 $10,200,000 "$ 12,931,152 '$ 2,731,152 $240,000,000.00 $102,000,000 123,760,520 21,760,520