On January 1, 2020, Loop de Loop Raceway issued 550 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2022. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $535,288. Loop de Loop uses the straight-line bond amortization method. Required: 1. Prepare a bond amortization schedule, Changes During the Period Period Ended Cash Paid Discount Amortized Interest Expense Ending Bond Liability Balances Discount on Bonds Bonds Payable Carrying Value Payable 01/01/20 12/31/20 12/31/21 12/31/22 2. Prepare the journal entry to record the bond issue. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the interest payments on December 31, 2020. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2020 Record entry Clear ents View general journal 4. Prepare the journal entry to record the interest and face value payment on December 31, 2022. (If no entry is requi transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the bond retirement. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01, 2022 Recordemia Clear entre Vieweneral cual