On January 1, 2021, Loop Raceway issued 690 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, 2023. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $671,543. Loop uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the final year. Required: 1. Prepare a bond amortization schedule. 2-5. Prepare the journal entries to record the bond issue, the interest payments on December 31,2021 and 2022 , the interest and face value payment on December 31, 2023 and the bond retirement. Assume the bonds are retired on January 1, 2023 , at a price of 98. Complete this question by entering your answers in the tabs below. Prepare a bond amortization schedule