Hernandez Company has decided to raise additional capital through a bond issuance. The details are below:

5-year bond issued on January 1, 2022 for $600,000. The issue price was $573,052.

The coupon rate was 3%, and the market rate on the date of issuance was 4%

Interest is paid semi-annually the last day of June and December .

The company's year-end is 12/31.

Answer the following questions:

Question 1: Record the journal entry for bond issuance for Hernandez Company on January 1, 2022.

Question 2: Hernandez Company makes adjusting entries at the end of every month. Record the journal entry on January 31, 2022.

Question 3: Assume Hernandez Company has correctly recorded all adjusting entries at the