Wishful Thinking (WT) School of Management is building a new facility on a piece of donated land. It received a generous cash donation from a local business to support the project, and now needs to borrow additional $25,000,000 to complete the project. Therefore WT School of Mgmt issued $25,000,000 of 6.00% 7-year bonds. These bonds were issued on January 1, 2018 and pay interest annually on each January 1. The bonds yield 4.00%. WT School of Memt incurred $750,000 in bond issue costs related to the bond sale. (a) Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2018 1 + (b) Prepare a bond amortization schedule up to and including January 1, 2022, using the effective interest method. Bond Interest Interest Disc/Prem Carrying Date Paid Expense Amortization Value (c) Assume that on July 1, 2021, WT School of Mgmt retires 40% of the bonds at a cost of $13,750,000 plus accrued interest. Prepare journal entries to record this retirement (16 points, show your work)