On February 1, 2024, Sanyal Motor Products issued 9% bonds, dated February 1, with a face amount of $60 million. The bonds mature on January 31, 2028 (four years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Barnwell Industries acquired $60,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. Required: 1. Determine the price of the bonds issued on February 1, 2024. 2-a. Prepare amortization schedules that indicate Sanyal's effective interest expense for each interest period during the term to maturity. 2-b. Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity. 3. Prepare the journal entries to record the issuance of the bonds by Sanyal and Barnwell's investment on February 1, 2024. 4. Prepare the journal entries by both firms to record all events related to the bonds through January 31, 2026. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 3 Req 4 Sanyal Req 4 Barnwell Determine the price of the bonds issued on February 1, 2024. Note: Do not round intermediate calculations. Enter your answer in whole dollars. Price of the bonds < Req 1 Req 2A > Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 3 Req 4 Sanyal Req 4 Barnwell Prepare amortization schedules that indicate Sanyal's effective interest expense for each interest period during the term to maturity. Note: Do not round intermediate calculations. Enter your answers in whole dollars. Payment Number Cash Payment Effective Interest Increase in Balance 1 2 3 4 5 6 7 8 Outstanding Balance Totals < Req 1 Req 2B > Req 1 Req 2A Req 2B Req 3 Req 4 Sanyal Req 4 Barnwell Prepare amortization schedules that indicate Barnwell's effective interest revenue for each interest period during the term to maturity. Note: Do not round intermediate calculations. Enter your answers in whole dollars. Payment Number Cash Payment Effective Interest 1 2 3 4 5 6 7 8 Totals Increase in Balance Outstanding Balance < Req 2A Req 3 > Req 1 Req 2A Req 2B Req 3 Req 4 Sanyal Req 4 Barnwell Prepare the journal entries to record the issuance of the bonds by Sanyal and Barnwell's investment on February 1, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars. View transaction list 1 Record the issuance of the bonds by Sanyal. 2 Record the Bond investment by Barnwell. > Req 1 Req 2A Req 2B Req 3 Req 4 Sanyal Req 4 Barnwell Prepare the journal entries by Sanyal to record all events related to the bonds through January 31, 2026. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars. View transaction list 1 Record the payment of interest for Sanyal Company. 2 Record the accrued interest for Sanyal Company. 3 Record the payment of interest for Sanyal Company. 4 Record the payment of interest for Sanyal Company. 5 Record the accrued interest for Sanyal Company. Credit 6 Record the payment of interest for Sanyal Company. > Req 1 Req 2A Req 2B Req 3 Req 4 Sanyal Req 4 Barnwell Prepare the journal entries by Barnwell to record all events related to the bonds through January 31, 2026. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars. View transaction list 1 Record the receipt of interest for Barnwell Company. 2 Record the accrued interest for Barnwell Company. 3 Record the receipt of interest for Barnwell Company. 4 Record the receipt of interest for Barnwell Company. 5 Record the accrued interest for Barnwell Company. Credit 6 Record the receipt of interest for Barnwell Company.