Banjo Education Corp. issued a $4\%,$$$180,000$ bond that pays interest semiannually each June $30$ and December $31.$ The date of 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.$)$

Total bond interest expense

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.$)$

$*$Red text indicates no response was expected in a cell or a formula$-$based calculation is incorrect; no points deducted.

issuance was January $1,2023.$ The bonds mature after four years. The market interest rate was $6\%.$ Banjo Education Corp.$\text{'}$s year$-$end

is December $31.$ Use TABLE $14$A$\mathrm{.}1$ and TABLE $14$A$\mathrm{.}2.($For all the requirements, Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

Preparation Component:

Calculate the issue price of the bond. $($Round the final answer to the nearest whole dollar.$)$

Issue price of the

bond

$$167,363$

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.$)$