14 with some problems from Chapter 13) - ho - Help Beve SE Check my Problem 14-15 (Algo) Early extinguishment; effective Interest (LO14-5) The long-term Ilability section of Twin Digital Corporation's balance sheet as of December 31, 2020, Included 10% bonds having a face amount of $20 million and a remaining discount of $1 million. Disclosure notes Indicate the bonds were issued to yield 12% Interest expense is recorded at the effective Interest rate and paid on January and July for each year. On July 1, 2021, Twin Digital retired the bonds at 101 ($20.2 million) before their scheduled maturity Required: 1. & 2. Prepare the necessary journal entries by Twin Digital on July 1, 2021. Of no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the semiannual interest Note: Enter debts before credit Date General Journal Debit Credit July 01, 2021 ter 14 with some problems from Chapter 13) -ho. 5 Problem 14-15 (Algo) Early extinguishment; effective interest (LO14-5) The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2020, included 10% bonds having a face amount of $20 million and a remaining discount of $1 million Disclosure notes indicate the bonds were issued to yield 12% Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2021, Twin Digital retired the bonds at 101 ($20.2 million) before their scheduled maturity. Required: 1. & 2. Prepare the necessary Journal entries by Twin Digital on July 1, 2021. (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.) View transaction list Journal entry worksheet 1 Record the redemption of the bonds. Note: Enter debits before credits General Journal Debit Credit Date July 01, 2021