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Venezuela Co is bilding a new hockey arena at a cost of businesses to support the project, and now needs to borrow the project. It therefore decides to issue -year bonds. These bonds were issued on January 1, 2018, and pay interest annually on each January 1. The bonds yield $8,000,000 It received a downpayment of $3,000,000 from local $5,000,000 to complete 10.00% $5,000,000 of 10 8.00% Instructions (a) Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2018 (b) Prepare a bond amortization schedule up to and including January 1, 2021, using the effective interest method Carrying Value Interest Paid Interest Premium Date Jan 1, 18 Jan 1, 19 Jan 1, 20 Jan 1, 21 Expense Aization $3,215,000 (c) Assume that on Jan 2, 2021, Venzuela Co. retires half of the bonds at a cost of plus accrued interest. Prepare the journal entry to record this retirement Entry for reacquisition