On 1/1/2020 Red Door Corp. Issued the $80,000,000, 2% due 12/31/2022. The coupon payments ( 1% semi-annual) are paid on June 30th & Dec 31st. At the time of issues, the stated market rate for similar bond issues was 10% (5% semi-annual)

a) calculate the issue price (present value) of the bond proceeds (round to the nearest dollar) Show work and complete the bond amortization table below

b) prepare the accounting journal entries for the bond issues on the journal sheet.