On February 1, 2019, Ellison Co. issued nine-year callable bonds with a face value of $250,000,000 and a stated interest rate of 8.5%, payable semiannually on July 1 and January 1. The bonds were sold to yield 8%. Table values are:

a. Calculate the issue price of the bonds.

b. Record the issuance on February 1, 2019.

c. Prepare the journal entries for the interest expense and payments for 2019, 2020, 2021, 2022 and 2023. (you will need to prepare amortization schedule)

d. Assume all of the bonds are called on January 1, 2024 at 102. Prepare the journal entry to record the call.