On January $1,2022,$ Pirate Industries issued $$700,000$ bonds payable with a stated interest rate of $6\%.$ Interest is paid semi$-$annually, each June $30$ and December $31.$ The bonds mature in $2$ years and are sold to yield an effective rate of $4\%.$

Prepare the journal entry Pirate Industries will make when they issue the bonds on January $1,2022.$

Prepare an effective interest rate table $($amortization schedule$)$ for the bonds for the period from January $1,2022$ through December $31,2023.$

Prepare the journal entry Pirate Industries will make to record interest on December $31,2022.$

Click to open: darr $$

To answer question $2,$ you can copy and paste the blank table below into your answer, and then fill your answer into the boxes. $($I have provided this to try to help you, but if you cannot get the copy$/$paste function to work on your computer, format however is easiest for you.$)$