Banjo Education Corp. issued a 4%, $150,000 bond that pays interest semiannually each June 30 and December 31. The date of issuance was January 1, 2020. 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. 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.)

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. 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.)

6 Horticultural Products Inc. reported $1,144,752 profit in 2020 and declared preferred dividends of $64,600. The following changes in common shares outstanding occurred during the year.

Jan. 1 99,000 common shares were outstanding.

Mar. 1 Declared and issued a 14% common share dividend.

Aug. 1 Sold 40,000 common shares.

Nov. 1 Sold 20,000 common shares.

Calculate the weighted-average number of common shares outstanding during the year and earnings per share. (Round the "Earnings per share" answer to 2 decimal places.)