PR 14-4A please look carefully at the pictures. The situations are on picture one, and the answers are needed for picture two! thank you for your time, appreciate it! ```markdown**PR 14-4A Entries for bonds payable and installment note transactions**The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year:**2016**- **July 1**: Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 2016, at a market (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30.- **Oct. 1**: Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks Bank. The note requires annual payments of $40,673, with the first payment occurring on September 30, 2017.- **Dec. 31**: Accrued $3,000 of interest on the installment note. The interest is payable on the date of the next installment note payment.- **Dec. 31**: Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment.- **Dec. 31**: Closed the interest expense account.**2017**- **June 30**: Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment.- **Sept. 30**: Paid the annual payment on the note, which consisted of interest of $12,000 and principal of $28,673.- **Dec. 31**: Accrued $2,570 of interest on the installment note. The interest is payable on the date of the next installment note payment.- **Dec. 31**: Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment.- **Dec. 31**: Closed the interest expense account.**2018**- **June 30**: Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amortization of discount have been recorded. (Record the redemption only.)- **Sept. 30**: Paid the second annual payment on the note, which consisted of interest of $10,280 and principal of $30 **Problem 14-1A: Educational Exercises**This educational resource contains a series of questions related to financial data over a specified period. Below is a transcription and explanation of the content provided in the image.**Graph Details**The image includes a bar graph representing "Wagon" data across various dates:- **Dates:** - October 1, 2016 - December 31, 2016 - June 30, 2017 - September 30, 2017 - December 31, 2017 - June 30, 2018 - September 30, 2018The data might represent financial values or another kind of measured data related to "Wagon" over time, segmented into consistent time intervals for comparison.**Questions Section****Question 2:**- a. 2016- b. 2017**Question 3:**- Initial carrying amount of bonds.- Discount amortized on Dec. 31, 2016- Discount amortized on June 30, 2017- Discount amortized on Dec. 31, 2017- Carrying amount of bonds, Dec. 31, 2017**Instruction:**Provide answers or calculations as required for each question, ensuring a comprehensive understanding of financial concepts such as amortization, carrying amounts, and discounts in the context of bonds. This exercise is designed to enhance knowledge of financial analysis over multiple fiscal periods.

ANSWER:- 1. JOURNAL ENTRIES Date Account Titles…

PR 14-4A Entries for bonds payable and installment note transactions The following transactions were completed by Winklevoss Inc., whose fiscal year is the calendar year: 2016 July 1. Issued $74,000,000 of 20-year, 11% callable bonds dated July 1, 2016, at a mar- ket (effective) rate of 13%, receiving cash of $63,532,267. Interest is payable semiannually on December 31 and June 30. Oct. 1. Borrowed $200,000 by issuing a six-year, 6% installment note to Nicks Bank. The note requires annual payments of $40,673, with the first payment occurring on September 30, 2017. Dec. 31. Accrued $3,000 of interest on the installment note. The interest is payable on the date of the next installment note payment. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 31. Closed the interest expense account. 2017 June 30. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. Sept. 30. Paid the annual payment on the note, which consisted of interest of $12,000 and principal of $28,673. Dec. 31. Accrued $2,570 of interest on the installment note. The interest is payable on the date of the next installment note payment. 31. Paid the semiannual interest on the bonds. The bond discount amortization of $261,693 is combined with the semiannual interest payment. 31. Closed the interest expense account. Retrieved from: Warren, C. S., Jonick, C. A., & Schneider, J. S. (2021). Accounting (28 ed.). Boston, MA: Cengage 2018 June 30. Recorded the redemption of the bonds, which were called at 98. The balance in the bond discount account is $9,420,961 after payment of interest and amor- tization of discount have been recorded. (Record the redemption only.) Sept. 30. Paid the second annual payment on the note, which consisted of interest of $10,280 and principal of $30,393. Instructions 1. Journalize the entries to record the foregoing transactions. Round all amounts to the nearest dollar. 2. Indicate the amount of the interest expense in (a) 2016 and (b) 2017. 3. Determine the carrying amount of the bonds as of December 31, 2017.