Question 8) (8 marks) On June 30, 2025, V Co, issued 10% bonds with a par value of $840,000 due in 10 years. They were issued at 96 and were callable at 102 at any date after June 30, 2029 Due to the fact interest rates were lower and a significant change in the company's credit rating, it was decided to call the entire issue on June 30, 2029, and to issue new bonds. New 8% bonds were sold in the amount of $1.1 million at 101: they mature in 20 years. The company follows ASPG straight-line amortization. The interest payment dates are December 31 and June 30 of each year, BUSHONA Required: 1) Prepare journal entries to record the retirement of the old issue and the sale of the new issue on June 30, 2029. 2) Prepare the entry required on December 31, 2029, to record the payment of the first six months of interest and the amortization of the bond premium