The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: Year 1 July 1 Issued S71,100,000 of 20-year, 12% callable bonds dated July 1,Year 1, at a market (effective) rate of 1496, receiving cash of $61,621,133. Interest is payable semiannually on December 31 and June 30. Paid the semiannual interest on the bonds. The bond discount amortization of $236,972 is combined with the semiannual interest payment Dec. 31 31 Closed the interest expense account. Year 2 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $236,972 is combined with the semiannual interest payment Dec. 31 Paid the semiannual interest on the bonds. The bond discount amortization of $236,972 is combined with the semiannual interest payment Closed the interest expense account. 31 Year 3 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $8,530,979 after payment of interest and amortization of discount have been recorded (Record the redemption only)