$4.$ Prepare the journal entries by both firms to record all events related to the bonds through January $31,2026.$

$-$On February $1,2024,$ Sanyal Motor Products Issued $6\%$ bonds, dated February $1,$ with a face amount of $$65$ million.

The bonds mature on January $31,2028($four years$).$

The market yleld for bonds of similar risk and maturity was $8\%.$

Interest is pald semlannually on July $31$ and January $31.$

Barnwell Industrles acquired $$65,000$ of the bonds as a long$-$term investment.

The fiscal years of both firms end December $31.$

eEook

Required:

Determine the price of the bonds issued on February $1,2024.$

$2-$a$.$ Prepare amortJzation schedules that Indicate Sanyal's effective interest expense for each interest period during the term to maturity.

$2-$b$.$ Prepare amortization schedules that Indicate Barnwell's effective Interest revenue for each Interest perlod during the term to maturity.

Prepare the Journal entrles to record the Issuance of the bonds by Sanyal and Bamwell's Investment on February $1,2024.$

Prepare the journal entres by both firms to record all events related to the bonds through January $31,2026.$

Note: Use tables, Excel, or a financlal calculator. $($FV of $$1.$ PV of $$1.$ FVA of $$1.$ PVA of $$1.$ FVAD of $$1$ and PVAD of $$1)$

Complete this question by entering your answers in the tabs below.

$$

Req$3$

Req $4$ Sanyal

Req $4$ Barnwell

Prepare the journal entries by Sanyal to record all events related to the bonds through January $31,2026.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No joumal entry required' in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.

Vew transaction llat

VIaw joumal entry workehest $5$

$\frac{21\mathrm{.}33}{21\mathrm{.}87}$

points awarded

Scored

Prepare the journal entries by Barnwell to record all events related to the bonds throu Note: If no entry is required for a transaction$/$event$,$ select $"$No joumal entry required intermediate calculations. Enter your answers in whole dollars.