On January 1, 2021, Methodical Manufacturing Issued 100 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 4.25 percent, so the total proceeds from the bond issue were $102,070. Methodical uses the effective-Interest 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 entry to record the bond issue, Interest payments on December 31, 2021 and 2022, 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 102. Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 5 Prepare a bond amortization schedule. (Round your answers to the nearest whole dollar. Make sure that the Carrying value equals face value of the bond in the last period. Interest expense in the last period will result in the amount in Premium Amortized equaling Premium on Bonds Payable.) Changes During the Period Ending Bond Liability Balances Period Ended Interest Expense Cash Paid Premium Amortized Bonds Payable Premium on Bonds Payable Carrying Value 01/01/21 12/31/21 12/31/22 12/31/23 < Req 1 Req 2 to 5 > Required: 1. Prepare a bond amortization schedule. 2-5. Prepare the journal entry to record the bond issue, Interest payments on December 31, 2021 and 2022, 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 102. Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 5 Prepare the journal entry to record the bond issue, interest payments on December 31, 2021 and 2022, 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 102. (Round your answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Show less View transaction list Journal entry worksheet > 1 2 3 4 5 Record the issuance of 100 bonds at face value of $1,000 each for $102,070. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit Record entry Clear entry View general journal < Req 1 Req 2 to 5 >