On January $1,2022,$ Lock Corporation issued $$1,800,000$ face value, $5\%,10-$year bonds at $$1,667,518.$ This price resulted in an effective$-$interest rate of $6\%$ on the bonds. Lock uses the effective interest method to amortize bond premium or discount. The bonds pay annual interest January $1.$

Instructions

$($Round all computations to the nearest dollar.$)$

a$.$ Prepare the journal entry to record the issuance of the bonds on January $1,2022.$

b$.$ Prepare an amortization table through December $31,2024($three interest periods$)$ for this bond issue.

c$.$ Prepare the journal entry to record the accrual of interest and the amortization of the discount on December $31,2022.$

d$.$ Prepare the journal entry to record the payment of interest on January $1,2023.$

e$.$ Prepare the journal entry to record the accrual of interest and the amortization of the discount on December $312023$