Check my work PA10-6 (Algo) (Supplement 10A) Recording Bond Issue, Interest Payments (Straight-Line Amortization). and Early Bond Retirement [LO 10-S1 On January 1, 2021. Loop Raceway issued 500 bonds, each with a face value of $1.000 a stated interest rate of 7 percent paid annually on December 31, and a maturity date of December 31, 2023. On the issue date, the market interest rate was 8 percent, so the total proceeds from the bond issue were $487099. Loop uses the straightine bond amortization method and adjusts for any rounding errors when recording Interest in the final year Required: 1. Prepare a bond amortization schedule 2-5. Prepare the journal entries to record the bond issue, the interest payments on December 2001 and 2022. the interest and face value payment on December 31, 2023 and the bond retirement Assume the bonds are retired on January 2023. at a price of 99. Complete this question by entering your answers in the tabs below. Rest Reg 2 to 5 Prepare a bond amortization schedule Changes During the Period Ending Bond Liability Balances Bonde Discount on Bonde Carrying Payable Payable Value Period Ended Cash Paid Discount Interest Amortized Expense cu i ddy 1, 2023, did price Complete this question by entering your answers in the tabs below. Req 1 Reg 2 to 5 Prepare a bond amortization schedule. Changes During the Period Ending Bond Liability Balances Period Ended Cash Paid Discount Amortized Interest Expense Bonds Payable Discount on Bonds Payable Carrying Value 01/01/21 12/31/21 12/31/22 12/31/23 Req 2 to 5 > Duurlui il y WUIRSheet ook