On January $1,2025,$ Metlock Company sold $12\%$ bonds having a maturity value of $$900,000\mathrm{.}00$ for $$968,233\mathrm{.}32,$ Schedule of Interest Expense and Bond Premium Amortization

Effective$-$Interest Method

which provides the bondholders with a $10\%$ yield. The bonds are dated January $1,2025,$ and mature January $1,2030,$

with interest payable December $31$ of each year. Metlock Company allocates interest and unamortized discount or

premium on the effective$-$interest basis.

Click here to view factor tables.

$($a$)$

Your answer has been saved. See score details after the due date.

Prepare the journal entry at the date of the bond issuance. $($Round answer to $2$ decimal places, e$.$g$.$

$38,548\mathrm{.}25.$ If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the

amounts. Credit account titles are automatically indented when the amount is entered. Do not

indent manually. List all debit entries before credit entries. If no entry is required, select $-$No

entry$-$ for the account titles and enter $0$ in the respective debit and credit fields.$)$

$($b$)$

Prepare a schedule of interest expense and bond amortization for $2025-2027.($Round answer to $2$ decimal

places, e$.$g$.38,548\mathrm{.}25.)$