Question 1 (6 points) Quality Mowers Inc. issued a 5%, $600,000 5 year bond on December 1, 2016. The bond pays interest each May 31 and November 30. The bond was issued to yield 6%. On June 1, 2020, the company defeased 40% of the bonds for the market price of 101 in accordance with the terms of the bond. Required: Provide the entry to record the defeasance of 40% of the bond on June 1, 2020. Show and label your work (6 marks)