(15 points) Stressed $2.500,000 of S% 20 year bands. These bonds were issued Jary 1, 2017 and pay interest annually on each January 1. The bonds yield 3% and was issued at $325 8S! Required (2) Prepare the journal entry to record the issuance of the bonds on January 1, 2017 (1) Prepare a bond amortization schedule up to and including January 1, 2021, using the effective interest method Expense Date Casa Pand 117 us 125.000 1119 125.000 1120 125.000 1121 125.000 Premium Carrying Amount of Amortization Bonds 3.23.884 27.683 3:216,201 28424 3.187,777 97317 96 576 () Assume that on July 1, 2020 Star Center Co. redeems 50% of the boods at a cost of $1.500.000 plus accrued interest. Prepare the journal entries to record this redemption (15 points) StarCenter issued $2,500,000 of 5%, 20 year bonds. These bonds were issued on January 1, 2017 and pay interest annually on each January 1. The bonds yield 3% and was issued at $3,243,884. Required (a) Prepare the journal entry to record the issuance of the bonds on January 1, 2017. 1 (b) Prepare a bond amortization schedule up to and including January 1, 2021, using the effective interest method Date Cash Paid Interest Expense Premium Amortization 1/1/17 1/1/18 1/1/19 1/1/20 1121 Carrying Amount of Bonds 3,243,884 3216,201 3,187,777 125.000 125.000 125,000 125.000 97312 96 $76 27.683 28,424 (c) Assume that on July 1, 2020, StarCenter Co. redeems 50% of the bonds at a cost of $1,800,000 plus accrued interest. Prepare the journal entries to record this redemption