DDJ Ltd$.$ sold $$6,840,000$ of $8\%$ bonds, which were dated March $1,2023,$ on June $1,2023.$ The bonds paid interest on September $1$ and March $1$ of each year. The bonds' maturity date was March $1,2033,$ and the bonds were issued to yield $10\%.$ DDJ$\text{'}$s fiscal year$-$end was February $28,$ and the company followed IFRS.

On June $1,2024,$ DDJ bought back $$2,840,000$ worth of bonds for $$2,740,000$ plus accrued interest. $1.$Using $1.$ a financial calculator, or $2.$ Excel function PV$,$ calculate the issue price of the bonds and prepare the entry for the issuance of the bonds. Hint: Use the account Interest Expense in your entry$).($Round answer to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)2.$ Using $1.$ a financial calculator, or $2.$ Excel function PV$,$ calculate the carrying amount of the bond on September $1,2023.$ Use the change in the carrying amount as the amount of amortization of the discount to be recorded in the entry for the first payment. $3.$ Prepare the journal entry for the scheduled interest payment on September $1,2023.($Round answer to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)4.$ Prepare any year$-$end entry required at February $28,2024.($Round answer to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)6.$ Prepare the journal entry for the accrued interest on the portion of the bonds redeemed. $($Round answer to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)7.$ Prepare the entry required for the redemption of face value $$2,840,000$ of the bonds on June $1,2024.($Round answer to $0$ decimal places, e$.$g$.5,275.$ Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry.$)$