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help? 6 Exercise 10-11 (Static) Straight-Line: Bond computations, amortization, and...

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6 Exercise 10-11 (Static) Straight-Line: Bond computations, amortization, and bond retirement LO P2, P4 05 points On January 1, 2021. Shay Company issues $700,000 of 10%, 15-year bonds. The bonds sell for $684.250. Six years later on January 2027. Shay retires these bonds by buying them on the open market for $731,500. All interest is accounted for and paid through December 31, 2026. the day before the purchase. The straightline method is used to amortize ony bond discount 1. What is the amount of the discount on the bonds at issuance? 2. How much amortization of the discount is recorded on the bords for the entire period from January 1, 2021. through December 31 3. What is the carrying (book) value of the bonds as of the close of business on December 31, 2026? 4. Prepare the journal entry to record the bond retirement 2026 Answer is not complete Complete this question by entering your answers in the tabs below. Red 1 and 2 Ro Red Prepare the journal entry to record the bond retirement No De General Journal Jawy Bonds Lorement of bonde Discount on bonds payable Case Debit Cred 700,000 BOOO

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