Bond Interest Payments and Interest Expense (Effective Interest) On January 1, 2023, Hawthorne Corporation issued for $312,989, 5-year bonds with a face amount of $300,000 and a stated (or coupon) rate of 6%. The bonds pay Interest annually and have an effective interest rate of 5%. Assume Hawthome 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 312,989 Premium on Bonds Payable Bonds Payable 300.000 Record issuance of bonds at premium 2. Calculate the amount of the interest payments for the bonds. 3. Prepare the amortization table through 2024. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "O". If required, round your answers to the nearest whole dollar. Hawthorne Corporation Amortization Table Cash Interest Premium on Premium on Payment Expense Bonds Payable Bonds Payable Carrying (Credit) (Debit) (Debit) Balance Value Period At issue 12/31/23 12/31/24 Check My Work 3 more Check My Work uses remang All work saved Email Instructor Save and Exit Submit Assignment for Grading