The following transactions were completed by Prairie Renaissance Inc., whose fis- cal year is the calendar year: 2005 July 1. Issued $8,000,000 of 5-year, 8% callable bonds dated July 1, 2005, at an effective rate of 10%, receiving cash of $7,382,236. Interest is payable semiannually on December 31 and June 30. Dec. 31. Paid the semiannual interest on the bonds. 31. Recorded' bond discount amortization of $61,776, which was determined by using the straight-line method. 31. Closed the interest expense account. 2006 June 30. Paid the semiannual interest on the bonds. Dec. 31. Paid the semiannual interest on the bonds. 31. Recorded bond discount amortization of $123,552, which was deter- mined by using the straight-line method. 31. Closed the interest expense account 2007 June 30. Recorded the redemption of the bonds, which were called at 99. The balance in the bond discount account is $370,660 after payment of inter- est and amortization of discount have been recorded. (Record the redemp- tion only) Instructions 1. Journalize the entries to record the foregoing transactions. O Focus MacBook Air ad DII FS s F6 FB F9 F30