The following major transactions pertain to the long-term bonds of Renn Co. On April 1, year 1, Renn issued $900,000, 9% bonds initially dated January 1, year 1, for $958,163, including accrued interest to yield 8%. Interest is payable annually on December 31. On July 1, year 3, Renn retired $270,000 of the bonds at 102 plus accrued interest. Renn uses effective-interest amortization.

1. Record the issuance of the bonds in Renns General Journal on April 1, year 1, including a brief explanation.

2. Prepare an amortization schedule for the bonds until December 31, year 3.

3. Record the payment of interest in Renns General Journal for all of the bonds on December 31, year 2, including a brief explanation.

4. Record the payment of interest in Renns General Journal for the retired bonds on July 1, year 3, including a brief explanation.

5. Record the retirement of the bonds in Renns General Journal on July 1, year 3, including a brief explanation.