can you please help me solve this entire for issuing bonds and amortization premium by straight line method?

3. EX.14.07 Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Year 1 July 1 Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, Year 1, at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks Bank. The note requires annual payments of $40,673, with the first payment occurring on September 30, Year 2. Oct. 1 Dec. 31 Accrued $3,000 of interest on the installment note. The interest is payable on the date of the next 31 installment note payment. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Year 2 June 30 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined Sept. 30 with the semiannual interest payment. Paid the annual payment on the note, which consisted of interest of $12,000 and principal of $28,673. Accrued $2,570 of interest on the installment note. The interest is payable on the date of the next installment note payment. Dec. 31 31 Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Year 3 June 30 Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded. Record the redemption only. Sept. 30 Paid the second annual payment on the note, which consisted of interest of $10,280 and principal of $30,393. Required: 1. Journalize the entries to record the foregoing transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Round all amounts to the nearest dollar. 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, Year 2. Chart of Accounts CHART OF ACCOUNTS Winklevoss Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 111 Petty Cash 121 Accounts Receivable 611 Gain on Redemption of Bonds 122 Allowance for Doubtful Accounts EXPENSES 126 Interest Receivable 510 Cost of Merchandise Sold 127 Notes Receivable 131 Merchandise Inventory 515 Credit Card Expense 616 Cash Short and Over 141 Office Supplies 142 Store Supplies 521 Sales Salaries Expense 522 Office Salaries Expense 151 Prepaid Insurance 191 Land 531 Advertising Expense 532 Delivery Expense 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 533 Repairs Expense 534 Selling Expenses 194 Office Equipment 231 Sales Tax Payable 232 Interest Payable 241 Notes Payable 251 Bonds Payable 252 Discount on Bonds Payable 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 711 Loss on Redemption of Bonds 253 Premium on Bonds Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends Joumal 1. Journalize the entries to record the foregoing transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for credit entry when a credit amount is entered. Round all amounts to the nearest dollar. Year 1 PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUI 1 2 3 4 5 6 7 8 9 10 ear 2 PAGI JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EC 9 10 11 12 Year 3 PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS 1 LIABILITIES EQUITY 2. 3 6 8 Final Questions 2. Indicate the amount of the interest expense in (a) Year 1 and (b) Year 2. a. Year 1: $ b. Year 2: $ 3. Determine the carrying amount of the bonds as of December 31, Year 2. $