I dont understand this problem

t On January 1, 2018, Surreal Manufacturing issued 560 bonds, each with a face value of $1000, a stated interest rate of 3 percent paid I proceeds from the bond issue were $544,462 Surreal uses the effective-interest bond amortization method and adjusts for any annually on December 31, and a maturity date of December 31 rounding errors when recording interest in the final year. Required: , 2020. On the issue date, the market iterest rate was 4 percent, so the 1. Prepare a bond amortization schedule 2-5. Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face ook value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of int 103. ences Complete this question by entering your answers in the tabs below. RRag to s Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers t nearest whole dollar amount.) a price of 103. (If Show less &