(Learning Objectives 1, 3: Account for bonds payable retired prior to maturity)On January 1, 2017, Kittle Corporation issued five-year, 4% bonds payable with a face valueof $2,500,000. The bonds were issued at 95 and pay interest on January 1 and July 1. Kittleamortizes bond discounts using the straight-line method. On December 31, 2019, Kittle retiredthe bonds early by purchasing them at a market price of 97. The company’s fiscal year ends onDecember 31.Requirements1. Journalize the issuance of the bonds on January 1, 2017.2. Record the semiannual interest payment and amortization of bond discount on July 1,2017.3. Record the interest accrual and discount amortization on December 31, 2017.4. Calculate the carrying value of the bonds payable on December 31, 2019, prior to theirretirement.5. Calculate the gain or loss on the retirement of the bonds payable on December 31, 2019.Indicate where this gain or loss will appear in the financial statements.

(Learning Objectives 1, 6: Issue bonds at a discount; amortize using thestraight-line method; report bonds payable and accrued interest payable on the balancesheet) On February 28, 2018, Shark Corp. issued 10%, 10-year bonds payable with a facevalue of $1,500,000. The bonds pay interest on February 28 and August 31. The companyamortizes bond discount using the straight-line method.Requirements1. If the market interest rate is 9% when Shark Corp. issues its bonds, will the bonds bepriced at par, at a premium, or at a discount? Explain.2. If the market interest rate is 11% when Shark Corp. issues its bonds, will the bonds bepriced at par, at a premium, or at a discount? Explain.3. Assume that the issue price of the bonds is 94. Journalize the following bond transactions.a. Issuance of the bonds on February 28, 2018b. Payment of interest and amortization of the bond discount on August 31, 2018c. Accrual of interest and amortization of the bond discount on December 31, 2018…

please use P*R*T fomular as well. Thanks

On March 1, 2022, Havenford Corporation issued $240,000, 4 year, 6% bond. Interest is to be paid semi-annually September 1 and March 1. The market rate for similar bonds was 5% at the time the bonds were sold. Havenford Corporation has a April 30 year end and uses the effective interest method to amortize any discount or premium.On September 2, 2024, Havenford redeemed 48% of the face value of these bonds at 101 and retired them.1. Calculate the PV of the bonds 2. Complete the amortization table using the effective interest method. 3. Record the following journal entries in the table below. i) Prepare the journal entry to record the issuance of the bond. ii) Prepare the journal entry to accrue the bond interest at corporate year end. iii) Prepare the journal entry to record the first interest payment. iv) Prepare the journal entry for the retirement of the bonds. Please do it properly correctly and with all the steps or calculations Kindly do it right i need a special expert for this…