Question: I need the solution to requirement 2 please and thank you! PARKVIEW MAGAZINE ISSUED $300,000 OF 15 YEAR, 8% CALLABLE BONDS PAYABLE ON JULY 31,

I need the solution to requirement 2 please and thank you!

PARKVIEW MAGAZINE ISSUED $300,000 OF 15 YEAR, 8% CALLABLE BONDS PAYABLE ON JULY 31, 2024, AT 93. ON JULY 31, 2027, PARKVIEW CALLED THE BONDS AT 104. ASSUME ANNUAL INTEREST PAYMENTS.

Requirement 1:

1. Without making journal entries, compute the carrying amount of the bonds payable at July 31, 2027

2. Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July 31, 2027. No explanation needed.

"The carrying amount of the bonds payable at issuance is $279,000. The discount on the bonds at issuance amounts to $21,000.

The carrying amount of the bonds payable at July 31, 2027 is $283,200."

Requirement 2:

Assume all amortization has been recorded properly. Journalize the retirement of the bonds on July, 31, 2027. No explanation needed.

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