On January 1, 2023, Hawthorne Corporation issued for $156,494, 5-year bonds with a face amount of $150,000 and a stated (or coupon) rate of 6%. The bonds pay interest annually and have an effective interest rate of 5%. Assume Hawthorne uses the effective interest rate method. Required: 1. Prepare the entry to record the sale of the bonds. If an amount box does not require an entry, leave it blank. 2023 Jan. 1 Cash Feedback Premium on Bonds Payable Bonds Payable Record issuance of bonds at premium Check My Work 1. When bonds are issued, any premium or discount is recorded in a separate valuation account. 2. Calculate the amount of the interest payments for the bonds.