The long$-$term liability section of Twin Digital Corporation's balance sheet as of December $31,2023,$ included $12\%$ bonds having a face

amount of $$15$ million and a remaining discount of $$1$ million. Disclosure notes indicate the bonds were issued to yield $14\%.$

Interest expense is recorded at the effective interest rate and paid on January $1$ and July $1$ of each year. Interest was accrued and

expensed on December $31,2023.$ On July $1,2024,$ Twin Digital retired the bonds at $104($ $$15\mathrm{.}6$ million$)$ before their scheduled maturity.

Required:

& $2.$ Prepare the necessary journal entries by Twin Digital on July $1,2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers

in whole dollars.

Journal entry worksheet

Record the semiannual interest.

Note: Enter debits before credits.