Record relevant transactions.

May $1,2023$ Bonds Payable with a par value of $$800,000,$ which are dated Janary $1,2023,$ are sold at $108$ plus interest. They are sold at coupon bonds, bear interest at $14\%($payable annually at January $1),$ and mature on January $1,2023.$

Dec $31,2023$ Adjudting entries are madeto record accrued interest and the amortization of the bonds.

Jan $1,2024$ Interest on the bonds is paid.

Apr $1,2024$ Par value bonds of $$560,000$ are reourchased at $104$ plus accrued interest and are retired.

Dec $31.$ Adjusting entries are made to record theh accrued interest and the amortization of the bonds.