On April $1,2022,$ Green Corporation issued $6\%$ bonds dated February $1,2022,$

with the face amount of $$500,000.$ The bonds were sold for their present value on April $1,$

$2022,$ plus two months of accrued interest. The bonds mature on January $31,2027.$

Interest is paid semiannually on July $31$ and January $31.$ Brown's fiscal year ends on

December $31$ each year. The effective annual interest rate is $8\%.$

Required:

$($a$)$ Prepare the journal entry to record the accrued interest in the proceeds from the bond sale

on April $1,2022.$

$($b$)$ Fill in the discount amortization table and prepare the journal entry to record the issuance

of the bonds $($excluding the recording of accrued interest$)$ on April $1,2022.$

Date Cash $(500,000$x

$0\mathrm{.}03)$

PVt$-1$ x $0\mathrm{.}04$ Dis. Amorz. Present

Value

$2/1/2022---------------------459,443\mathrm{.}5$

$7/31/202215,000$

$($c$)$ Prepare the journal entry to record the interest expense, discount amortization, and cash

payment for interest on July $31,2022.$