On February $1,2022,$Ellison Co$.$ issued ten$-$year bonds with a face value of $$50,000,000$ and a stated interest rate of $($see below$),$ payable semiannually on July $1$ and January $1.$ The bonds were sold to yield $($see below$).$ The bonds are callable at $101$ and convertible.

Coupon Rate $8\%$

Yield $10\%$

a$.$ Calculate the issue price

b$.$ Prepare the journal entry to record the issuance of the bonds

c$.$ Prepare the amortization table

d$.$ Prepare the journal entre for the first interest payment

e$.$ Assume the at the end of eight years $(16$ periods$),$ the bond is called. Prepare the journal entry to record the call