The following transactions were completed by Winklevoss Inc, whose fiscal year is the calendar year Year 1 July 1 Issued S74,000,000 of 20-year, 11% callable bonds dated July 1, Year 1, at a market (effective) rate of 13%, receiving cash of S63, 532.267. Interest is payable semiannaty on December 31 and June 30 Dec 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 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 amiortization of $261,693 s combinesd Dec 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 s combined with the semiannual interest payment with the semiannual interest payment e 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 $9,420,961 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 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 tties 2 Indicate the amount of the intereat expense in (a) year t and (b) Year 2 Determine the carrying amount of the bonds as of December 31, Year 2 The following transactions were completed by Winklevoss Inc, whose fiscal year is the calendar year Year 1 July1 1 Issued S74 ,000,000 of 20-year, 11% Calable bonds dated July 1, Year 1, at a market (effecherate of 13%, receiving cash of S63.532267 Interests payable semannualy on December 31 and June 30 Dec 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 Year 2 June 30 Paid the semiannual interest on the bonds The bond discount amonization of $261,693 is combined with the semiannual nterest payment Dec 31 Paid the semiannual interest on the bonds The bond discount amortizaton of $201 693 s combined with the semiannual interest payment 31 Closed the interest expense account Year 3 June 30 Recorded the redemption of the bonds, which were caled at 93 The balance in the bond discount account is s9 420 961 ater payment ofinterest and amortization of discount have been recorded Record the redemption only) Required: 1. Joumaize the enties to record the transactions Round all amounts to the nearest doar Be sure to include the me enties Reter to the Chat of Accounts for exact wording of account nries 2indicate the amount of the interest expense in (a) Year t and () ear 3 Determine the camying amount of the bonds as of of account