Exercise 9-61 (Algorithmic) Bond Interest Payments and Interest Expense (Effective Interest) On December 31, 2010, Hawthorne Corporation issued for $155,989, five-year bonds with a face amount of $146,000 and a stated (or coupon) rate of 9 percent. The bonds pay interest annually and have arn effective interest rate of 8 percent. Assume Hawthorne uses the effective interest rate method Hide 1. Prepare the entry to record the sale of the bonds. If an amount box does not require an entry, leave it blank. 2010 Dec. 31 Record issuance of bonds at premium 2 Calculate the amount of the interest payments for the bonds. 2. Calculate the amount of the interest payments for the bonds