The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year:2016

July 1 Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 2016, at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. Oct. 1 Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks Bank. The note requires annual payments of $40,673, with the first payment occurring on September 30, 2017. Dec. 31 Accrued $3,000 of interest on the installment note. The interest is payable on the date of the next installment note payment. 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 31 Closed the interest expense account. 2017 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Sept. 30 Paid the annual payment on the note, which consisted of interest of $12,000 and principal of $28,673. Dec. 31 Accrued $2,570 of interest on the installment note. The interest is payable on the date of the next installment note payment. 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 31 Closed the interest expense account. 2018 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded. (Record the redemption only.) Sept. 30 Paid the second annual payment on the note, which consisted of interest of $10,280 and principal of $30,393. Required: 1. Journalize the entries to record the foregoing transactions. Round all amounts to the nearest dollar. Be sure to include the year in the date for the entries. Refer to the Chart of Accounts for exact wording of account titles. 2. Indicate the amount of the interest expense in (a) 2016 and (b) 2017. 3. Determine the carrying amount of the bonds as of December 31, 2017.

I need help with: Sept. 30 2018 Paid the second annual payment on the note, which consisted of interest of $10,280 and principal of $30,393. Required: and 3. Determine the carrying amount of the bonds as of December 31, 2017. here is what I have answered and is graded correct. I have until 11:30 mst tonight. thanks

	2016
	July 1	Cash						63,532,267
		Discount on Bonds Payable						10,467,733
		Bonds Payable								74,000,000
	Oct. 1	Cash						200,000
		Notes Payable								200,000
	Dec. 31	Interest Expense						3,000
		Interest Payable								3,000
	Dec. 31	Interest Expense						4,331,693
		Cash								4,070,000
		Discount on Bonds Payable								261,693
	Dec. 31	Income Summary						4,334,693
		Interest Expense								4,334,693
	2017
	June 30	Interest Expense						4,331,693
		Cash								4,070,000
		Discount on Bonds Payable								261,693
	Sept. 30	Notes Payable						28,673
		Interest Expense						9,000
		Interest Payable						3,000
		Cash								40,673
	Dec. 31	Interest Expense						2,570
		Interest Payable								2,570
	Dec. 31	Interest Expense						4,331,693
		Cash								4,070,000
		Discount on Bonds Payable								261,693
	Dec. 31	Income Summary						8,674,956
		Interest Expense								8,674,956
	2018
	June 30	Bonds Payable						74,000,000
		Loss on Redemption of Bonds						7,940,961
		Cash								72,520,000
		Discount on Bonds Payable								9,420,961
	Sept. 30	Notes Payable						30,393
		Interest Expense
		Interest Payable
		Cash								40,673
a.	2016 interest expense:			$ 4,334,693
b.	2017 interest expense:			$ 8,674,956
	Initial carrying amount of bonds						$ 63,532,267
	Discount amortized on December 31, 2016
	Discount amortized on June 30, 2017
	Discount amortized on December 31, 2017
	Carrying amount of bonds, December 31, 2017