uctions following transactions were completed by Winklevoss Inc, whose fiscal year is the calendar year Year 1 July Issued S75, 100,000 of 20-year, 8% callable bonds dated July 1. Year 1, at a market (effective) rate of 10%, receiving cash of $62213861 Interest is payable semiannually on December 31 and June 30, Paid the semiannual interest on the bonds. The bond discount amortization of $322.153 is combined with the semiannual interest payment Closed the interest expense account 1 Dec. 31 31 Year 2 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $322 153 is combined Dec. 31 Paid the semiannual interest on the bonds. The bond discount amortization of $322,153 is combined with the semiannual interest payment 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 $11,597,527 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. Refer to the Chart of Accounts for exact wording of account titles 2. Indicate the amount of the interest expense in (a) Year 1 and (b) Year 2 3. Determine the carrying amount of the bonds as of December 31, Year2 takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocatorsassignment-takekinprogress afalse eBook Show Me How Entries for bonds payable, including bond redemption Chart of Accounts Calculator Instructions Joumal Final Questions Instructions Final Questions ,700.00 ,700.00 1 2 Indcate the amount ofthe nterest expense in Year 1 and (b) Year 2 $26,153.00 Year 1 S Year 2 S Points Points012 ording of account btes 3 Delermine the carrying amount of the bonds as of December 31, Year 2 Points 0/1 Score: 0V100 ACCOUNT Check My Work