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Show Steps for answers below: . GRSLtd, sold $6,350,000 of 10% bonds, which were dated March 1, 2023, on June 1, 2023. The bonds paid

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GRSLtd, sold $6,350,000 of 10% bonds, which were dated March 1, 2023, on June 1, 2023. The bonds paid interest on September 1 and March 1 of each year. The bonds' maturity date was March 1, 2033, and the bonds were issued to yield 12%. GRS's fiscal year-end was February 28 , and the compary followed IFRS. On June 1, 2024, GRS bought back $2,350,000 worth of bonds for $2,250,000 plus accrued interest. Using 1. a financial calculator, or 2. Excel function FV, calculate the issue price of the bonds and prepare the entry for the issuance of the bonds. Hint Use the account Interest Expense in your entry), (Round answer to 0 decimal places. es. 5.275. Credit occount titles are automaticdey indented when the amount is entered, Do not indent manualix. If no entry is roqulred, select "Mo Entry" for the account titles and enter O for the amounts. (ist all debit entries before credit entriec)

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