Twilight Corp. wanted to raise cash to fund its expansion by issuing long-term bonds. The corporation hired an investment banker to manage the issue (best efforts underwriting) and also hired the services of a lawyer and an audit firm. On June 1, 2023, Twilight sold $500,000 in long-term bonds. The bonds will mature in 10 years and have a stated interest rate of 8%. Other bonds that Twilight has issued with identical terms are traded based on a market rate of 10%. The bonds pay interest semi-annually on May 31 and November 30. The bonds are to be accounted for using the effective interest method. On June 1, 2025 Twilight decided to retire 20% of the bonds at 98. At that time the carrying value of the bonds was $445,813. Instructions (Round all values to the nearest dollar) Prepare all entries from the issue of the bond until November 30, 2023. (5 marks) General Journal Date Account Titles and Explanation Ref Debit Credit of 13 b) Calculate the gain or loss on the partial retirement of the bonds on June 1, 2025. (5 marks) c) Prepare the journal entries to record the partial retirement on June 1, 2025. (5 marks) General Journal Date Account Titles and Explanation Ref Debit Credit