banjo

Banjo Education Corp. issued a 4%,$90,000 bond that pays interest semiannually each June 30 and December 31 . The date of issuance was January 1, 2023. The bonds mature after four years. The market interest rate was 6%. Banjo Education Corp.'s year-end is December 31. Use TABLE 14A.1 and TABLE 14A 2. (For all the requirements, Use appropriate factor(s) from the tables provided.) Required: Preparation Component: 1. Calculate the issue price of the bond. (Round the final answer to the nearest whole dollar.) 2. Prepare a general journal entry to record the issuance of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) 2. Prepare a general journal entry to record the issuance of the bonds. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet Record the sale of bonds on original issue date. Note: Enter debite before credits. 3. Determine the total bond interest expense that will be recognized over the life of these bonds. (Do not round intermediate calculations. Round your answer to the nearest whole dollar.) 4. Prepare the first two years of an amortization table based on the effective interest method. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) 5. Present the journal entries Banjo would make to record the first two interest payments. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.) Journal entry worksheet 2 Record the six months' interest and discount amortization. Note: Enter debits before credits