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On January 1, 2018, Methodical Manufacturing issued 100 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2020. On the issue date, the market interest rate was 4.25 percent, so the total proceeds from the bond issue were $102,070. Methodical uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the nal year. Required: 1. Prepare a bond amortization schedule. 2-5. Prepare the required journal entries to record the bond issue. interest payments on December 31, 2018 and 2019. the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 102. Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 5 Prepare a bond amortization schedule. 011011'18 12131118 12/31I19 121311'20 On January 1, 2018, Methodical Manufacturing issued 100 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2020. On the issue date, the market interest rate was 4.25 percent, so the total proceeds from the bond issue were $102,070. Methodical uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the final year. Req u ired: 1. Prepare a bond amortization schedule. 2-5. Prepare the required journal entries to record the bond issue, interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 102. Complete this question by entering your answers in the tabs below. RqutOS Prepare the required journal entries to record the bond issue, interest payments on December 31, 2013 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 102. (If no entry is required for a transaction/event, select \"No Journal Entry Required" in the first account eld.) Show lessA View transaction list Journal entry worksheet Journal entry worksheet Record the interest payment on December 31, 2018. Note: Enter debits before credits. \fJournal entry worksheet Record the interest and face value payment on December 31, 2020. Journal entry worksheet Record the retirement of the bonds at a quoted price of 102, assuming the bonds are retired on January 1, 2020
