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Bond interent Pivinents and titerent Expense (Elfective intornst) On lanuary 1, 2023, Hawthome corporation issted for $156,494, 5-vear bonde with a face amount of $150,000
Bond interent Pivinents and titerent Expense (Elfective intornst) On lanuary 1, 2023, Hawthome corporation issted for $156,494, 5-vear bonde with a face amount of $150,000 and a stated (or coupon) raten af 6% The bonds pav interest annually and have an effective interest rate of 5%. Assume Hawhorne uses the utfective intereat rate method. Requirsd: 1. Prepare the entry to record the sale of the bonds. If an amount box does not reguire an entry, leave it blank: 2. calculate the amount of the interent payments for the bonds. required, round your onswers to the nearest whole dollar Hawthorne corporation Amortization Table 4. Prepare the Journal entry for December 31,2023 to record the payment of interest and the related interest expense, if an amount box iloes nist require an entry, leave it blank, if required, round your answers to the nearest whole dollar. 2023. De 5. Caiculate the annual interest expense for 2023 and 2024. If required, round vour answers to the fearest whole dollar. 2023 2024
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