Problem #3 —Entries for bonds payable Prepare the necessary journal entries to imal entries to record the following transa. term issuance of bonds of Pitts Co, ie ns relating to the long ed SOO of $1,000 face value Pitts Co., 8%, 10 year bonds to yield 10%. Int sis payable semiannually on June 30, December 31.The bonds are callabie at 102 June 30 x4 Paid semiannual interest on Pitts Go. bonds. (Use straight line method for amortization of any premium or December 31 X1 Paid semiannual interest on Pitts Co. bonds ions of the O1/04 x2 s Retired $300,000 face value bonds at the call price in accordance with the pr: bond indenture. Retired the remaining $200,000 of the face value of the bonds at the calll price in accordance with the provisions of the bond indenture.