PART 2 (16 marks); On December 31, 2020, when the market rate was 10%, West End Corp. issued $5,000,000, 12%, 5-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were issued for $5,386,087, and the corporation uses the effective interest method of amortizing any bond premium or discount. REQUIRED: (a) Complete the amortization table below for the first two periods only. (USE EXCEL TEMPLATE TO COMPLETE YOUR ANSWER) Period ending Cash interest paid Interest expenso Premium/ Discount Amortization Carrying value Dec. 31/20 June 30/21 Dec. 31/21 (b) Prepare the journal entries to record the issue of the bonds and the first interest payment (c) West End Corp. retires its bonds on December 31, 2024 for cash of $5,090,000. At that date the bonds have a carrying value of $5,092,971. Prepare the journal entry to retire the bonds on December 31, 2024