How do I journalize problem 14-4A?

Step 3: Enter your full question details here

The following transctions were completed by Hobson Inc., Whose fiscal year is the calender year: Issued $18,000,000 of five - year, 10% callable bonds dated July 1, 2010, at an effective rate of 12% , receiving cash of $16,675,184 Intend is payable semiannually on December 31 and June 30. Borrowed $400,000 as a 10 - year, 7% installment note from Marble Bank. The note requires annual payments of $56,951. with the first payment occurring on September 30, 2011. Accrued $7,000 of interest tin the installment note. The interest is payable on the date of the next installment note payment. Paid the semiannual interest on the bonds 31. Recorded bond discount amortization of $132,182, which was determined using the straight - line method 31. Closed the interest expense account. 2011 June 30 Paid the semiannual interest on the bonds Sept 10. Paid the annual payment on the note, which consisted of interest of $28,00(1 and principal of $28,951 Dec. 31. Accrued $6,493 of interest on the installment note. The interest is payable on the date of the next installment note payment 31. Paid the semiannual interest on the bonds 31 Recorded bond discount amortization of $264,964, which was determined using the straight - line method. 31. Closed the interest expense account. 2012 (one 30. Recorded the redemption of the bonds, which were called at 97. The balance in the bond discount account is $794,888 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 $25,973 and principal of $30,978. instructions Journalize the entries to record the foregoing transactions Indicate the amount of the interest expense in (a) 2010 and (b) 2011 Determine the carrying amount of the bonds as of December 31, 2011