Banjo Education Corp. issued a 4%, $50,000 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.) Answer is complete and correct. Issue price of the bond S 46,491 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.) Answer is complete but not entirely correct. No 1 Date January 01, 2020 Cash General Journal Discount on bonds payable Bonds payable Debit Credit 46,491 3,509x 50,000 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.) Answer is complete and correct. Total bond interest expense $ 11,510 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.) Answer is not complete. Period Ending Jan. 1/201 Cash Interest Paid Period Interest Discount Amort. Unamortized Discount Carrying Expense Value 46,491 June 30/20 1,000 1,395 395 46,886 Dec. 31/20 1,000 1,407 407 47,293 June 30/21 1,000 1,419 419 47,712 Dec. 31/21 1,000 1,431 431 48,143 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.) Answer is complete but not entirely correct. No Date General Joumal 1 June 30, 2020 Bond interest expense Bonds payable Cash 2 December 31, 202 Bond interest expense Bonds payable Cashi Debit Credit 1,395 395 1,000 1,407 407 1,000