Birchwood Corporation is looking to obtain financing for expansion. On May 1, 2021, they issued $2,000,000 of 8%, 4-year bonds dated April 1, 2020, with interest payments made each November 1 and May 1. On the issuance date, the market rate of interest was 10%, resulting in a price of $1,870,737. Birchwood Corporation amortizes any premium or discount rate using the effective-interest method.

Required a) Record the issuance on May 1, 2021 b) Record the first two interest payments, on November 1, 2021 and on May 1, 2022. c) What is the carrying value of the bond after 2 interest payments?