, Bond Interest Payments and Interest Expense (Effective Interest) On January 1, 2023, Hawthome Corporation issued for $208,659, 5-year bonds with a face amount of $200,000 and a stated (or coupon) rate of 6%. The bonds pay Interest annually and have an effective interest rate of 5%. Assume Hawthorne uses the effective interest rate method. Required: 1. Prepare the entry to record the sale of the bonds. If an amount box does not require an entry, leave it blank. 2023 Jan. 1 Cash Premium on Bonds Payable Bonds Payable Feedback Record issuance of bonds at premium Check My Work 208,659 2. Calculate the amount of the interest payments for the bonds. 50,000 x Feedback Check My W 8,659 200,000