Castle & Becket Financial Services, Inc. issued some five year 8% debentures with a par value of $4,000,000 to creditors on July 1, 2021. The yield to maturity for the creditors is 10%. The bonds pay interest on June 30 and December 31. They mature on June 30, 2026. The carrying amount of the bonds at issuance is $____________. The bond issue cost was $95,000.

Required: Amortization Table (6 Payments) &

1. Entries on July 1, 2021
2. Entries on June 30, 2022
3. Entries on June 30, 2023
4. What is the amount of interest expense of Castle & Becket Financial for the 2022 calendar year end Income Statement