AMC Entertainment, Inc., owns and operates movie theaters worldwide. Assume the companyissued 4 percent bonds at their $53,000,000 face value and then used all of these cash proceeds toretire bonds with a stated interest rate of 6 percent. At that time, the 6 percent bonds had a carryingvalue of $50,000,000.Required:1. Prepare the journal entries to record the issuance of the 4 percent bonds and the early retirement of the 6 percent bonds. Assume both sets of bonds were issued at face value.2. Where should AMC report any gain or loss on this transaction?3. What dollar amount of interest expense is AMC saving each year by replacing the 6 percentbonds with the 4 percent bonds?

How do you solve portion B and C. I don't understand the calcuations.

Subject :- Accountion

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On January 1, $834,000, 5-year, 10% bonds, were issued for $808,980. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, what is the semiannual amortization amount? Select the correct answer. $5,004 $2,502 $41,700 O $25,020

On January 1, 20x8, James Corporation issued $500,000, 10%, 5-year bonds, at 98. The bonds pay semiannual interest on January 1 and July 1. The company uses the straight-line method of amortization and has a calendar year end. The journal entry on December 31, 20x8, would include which of the following? Select one: a. Credit to Bonds Interest Payable for $26,000 b. Credit to Bonds Interest Payable for $25,000 c. Debit to Discount on Bonds Payable for $25,000 d. Credit to Discount on Bonds Payable for $25,000

I need part B done please and thank you.

Visno

Diaz Company issued bonds with a $149,000 face value on January 1, Year 1. The bonds had a 6 percent stated rate of interest and a 10-year term. Interest is paid in cash annually, beginning December 31, Year 1. The bonds were issued at 97. The straight-line method is used for amortization. Required a. Use a financial statements model like the one shown next to demonstrate how (1) the January 1, Year 1, bond issue and (2) the December 31, Year 1, recognition of interest expense, including the amortization of the discount and the cash payment, affect the company's financial statements. Note: Use + for increase or for decrease. In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity. Not all cells require input. Effect of Transactions on Financial Statements Event Number Assets Balance Sheet Liabilities Income Statement Stockholders' Equity Revenue Expense Net Income Statement of Cash Flows 1. 2.…

answer in text form please (without image), Note: .Every entry should have narration please