On January 1, 2021, Surreal Manufacturing issued 640 bonds, each with a face value of $1,000, a stated interest rate of 3 percent paid annually on December 31, and a maturity date of December 31, 2023. On the issue date, the market interest rate was 4 percent, so the total proceeds from the bond issue were $622,242. Surreal uses the simplified 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 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 102. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 5 Prepare a bond amortization schedule. (Do not round intermediate calculations. Round your answers to the nearest whole dollar. Make sure that the Carrying value equals to face value of the bond in the last period. Interest expense in the last period should be calculated as Cash Interest (+)/(-) Increase in Bonds Payable, Net.) Beginning of Year Changes During the Period End of Year Bonds Period Payable, Net Interest Expense Cash Paid Increase in Bonds Payable, Net Bonds Payable, Net 01/01/21 12/31/21 01/01/22 -12/31/22 $ 622,242 $ 627,932 01/01/23 12/31/23 633,849 24,890 25,117 25,351 $ 19,200 $ 5,690 $ 627,932 19,200 5,917 633,849 19,200 6,151 640,000 < Req 1 Req 2 to 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 102. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.) No Date General Journal 1 January 01, 2021 Cash Discount on Bonds Payable Bonds Payable, Net Show less Debit Credit 622,242 17,758 640,000 2 December 31, 202 Interest Expense Discount on Bonds Payable Cash 24,890 5,690 19,200 3 December 31, 202 Interest Expense 25,117 Discount on Bonds Payable Cash 5,917 19,200 4 December 31, 202 Interest Expense 25,351 Bonds Payable, Net 640,000 Discount on Bonds Payable Cash 6,151 659,200 5 January 01, 2023 Bonds Payable, Net 64,000 Loss on Bond Retirement Discount on Bonds Payable Cash 6,151 x 652,800 < Req 1 Req 2 to 5 >