sorry this one is a long question.

Inment/takeAssignment ook Show Me How Print Item ntries for bonds payable, including bond redemption Instructions Chart of Accounts ! Journal Final Questions Instructions The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1 Dec 31 issued $39,500,000 of 20 year, 7% callable bonds dated July 1, Year 1, at a market (effective) rate of 8%, receiving cash of $35,590,960. Interest is payable semiannually on December 31 and June 30. Pald the semiannual interest on the bonds. The bond discount amortization of $97,726 is combined with the semiannual interest payment. Closed the interest expense account. 31 Year 2 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $97 726 is combined with the semiannual interest payment. Paid the semiannual interest on the bonds. The bond discount amortization of $97.726 is combined Dec. 31 Instructions Dec 31 Paid the semiannual interest on the bonds. The bond discount amortization of $97,726 is combined with the semiannual interest payment. 31 Closed the interest expense account Year 3 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $3,518,136 after payment of Interest and amortization of discount have been recorded. (Record the redemption only.) Required: 1. Journalize the entries to record the transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact account titles 2. Indicate the amount of the interest expense in (a) Year 1 and (b) Year 2 JOURNAL Score: 82/100 ACCOUNTING EQUATION POST. REF CREDIT ASSETS LIABILITIES EQUITY DEBIT 35,590,960.00 1 3,090,940.00 39,500,000.00 1 DATE DESCRIPTION Jul 1 Cash Jul1 Discount on Bonds Payable Jul 1 Bonds Payable Dec 31' Interest Expense Dec. 31 Discount on Bonds Payable Dec 31 Cash Dec. 31 Income Summary Dec 31 Interest Expense 97,726,00 11,882,500.00 Entries for bonds payable, including bond redemption Instruction Chart of Accounts Journal Final Questions Instructions Journal TH Shaded cells have feedback. PAGE 10 JOURNAL Score: 0/100 ACCOUNTING EQUATION ASSETS DATE DESCRIPTION DERIT LIABILITIES CREDIT POST REF EQUITY 10. Journalize the entries to record the Year 3 transactions. Refer to the Chart of Accounts for exact wording of account mes. Question not attempted. JOURNAL Score: 0/49 ACCOUNTING EQUA DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LILITIES Th DEBI Final Questions Shaded cells have feedback. X 2 2. Indicate the amount of the interest expense in (a) Year 1 and (b) Year 2. Year 1: $ Year 2: $ Points: 0/2 3. Determine the carrying amount of the bonds as of December 31, Year 2. $ Points: 0/1 tween