On January 1, 2021, Methodical Manufacturing issued 100 bonds, each with a face value of $1,000, a stated interest rate of 9 percent paid annually on December 31, and a maturity date of December 31, 2023. On the issue date, the market interest rate was 8.25 percent, so the total proceeds from the bond issue were $101,920. Methodical 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 required journal entries to record the bond issue, 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 105. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 to 5 Prepare a bond amortization schedule. Changes During the Period Interest Cash Paid Period Ended Premium Amortized Ending Bond Liability Balances Bonds Premium on Payable Bonds Carrying Value Payable Expense 01/01/21 $ 0 $ 0 0 12/31/21 12/31/22 0 0 12/31/23 0 0 Reg 1 Reg 2 to 5 Prepare the required journal entries to record the bond issue, 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 105. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Show less View transaction list View journal entry worksheet X! Debit Credit 1 Record the issuance of 100 bonds at face value of $1,000 each for $101,920. 2 Record the interest payment on December 31, 2021. 3 Record the interest payment on December 31, 2022. 4 Record the interest and face value payment on December 31, 2023. 5 Record the retirement of the bonds at a quoted price of 105, assuming the bonds are retired on January 1, 2023. Note: = journal entry has been entered Bonds Payable Cash 5 January 01, 2023 Bonds Payable Premium on Bonds Payable Loss on Bond Retirement Cash