The following transactions were completed by Winklevoss Inc, whose fiscal year is the calendar year Year 1 Issued $71,100,000 of 20-year, 12% callable bonds dated July 1, Year 1, at a market (effective) rate of July 1 14%, receiving cash of $61.621.133 Interest is payable semiannually on December 31 and June 30. 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 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 31 Closed the interest expense account 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) Required 1 Journalize the entries to record the transactions Round al amounts to the nearest dollar Refer to the Chart of Accounts for exact wording of account bities Required: 1. Journalize the entries to record t the transactions. Round all amounts to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles Indicate the amount of the interest expense in (a) Year 1 and (b) Year 2 2 Determine the carrying amount of the bonds as of December 31. Year 2 3