PLEASE ONLY ANSWER WHEN YOU ARE $100\%$ SURE YOU ANSWER IS CORRECT. AND PLEASE ANSWER BOTH JOURNAL ENTRIES $1$ AND $2($REQUIRED FOR JOURNAL ENTRY $2$ WILL BE PROVIDED IN TEXT BELOW$).$ I WILL LEAVE A THUMB DOWN IF YOUR ANSWER IS INCOMPLETE OR INCORRECT. THANK YOU!

On $31$ December $207,$ a company has the following bond on the statement of financial position:

Bond payable, $7\%,$ interest due semi$-$annually on $31$ Dec. and $30$ June; maturity date, $30$ June $2011$: $ $6,200,000$

Premium on bonds payable $52,080$

$ $6,252,080$

On $28$ February $208,20\%$ of the bond was retired for $$1,364,000$ plus accrued interest to $28$ February. Interest was paid on this date

only for the portion of the bonds that were retired. Premium amortization was recorded on this date in the amount of $$500,$

representing amortization on the retired debt only.

Required:

Provide the entries to record the bond interest on $28$ February and the bond retirement. $($If no entry is required for a

transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round intermediate calculations. Round your

answers to the nearest whole dollar amount.$)$

Journal entry worksheet

$1.$Record the entry to update interest expense and amortization.

$2.$ Record the entry to retire bonds.