ries for bonds payable and installment note transactions lem Instructions Chart of Accounts Journal Final Questions structions me following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year Year 1 July 1 Oct 1 Issued $71,100,000 of 20-year, 12% callable bonds dated July 1, Year 1, at a market (effective) rate of 14%, receiving cash of $61,621,133. Interest is payable semiannually on December 31 and June 30 Borrowed $250,000 by issuing a six-year 5% installment note to Nicks Bank. The note requires annual payments of $49,254, with the first payment occurring on September 30, Year 2. Accrued $3,125 of interest on the installment note. The interest is payable on the date of the next sostallment note payment. Paid the semiannual interest on the bonds. The bond discount amortization of $236,972 is combined with the semiannual interest payment. Dec 31 31 Year 2 ries for bonds payable and installment note transactions lem Instructions Chart of Accounts Journal Final Questions structions me following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year Year 1 July 1 Oct 1 Issued $71,100,000 of 20-year, 12% callable bonds dated July 1, Year 1, at a market (effective) rate of 14%, receiving cash of $61,621,133. Interest is payable semiannually on December 31 and June 30 Borrowed $250,000 by issuing a six-year 5% installment note to Nicks Bank. The note requires annual payments of $49,254, with the first payment occurring on September 30, Year 2. Accrued $3,125 of interest on the installment note. The interest is payable on the date of the next sostallment note payment. Paid the semiannual interest on the bonds. The bond discount amortization of $236,972 is combined with the semiannual interest payment. Dec 31 31 Year 2