On June 30, 2025, John Johnson Company issued $4,880,000.00 face value of 13%, 20-year bonds at $5,247,120.00, a yield of 12% Johnson uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Click here to view factor tables. (a) Your answer is correct. Prepare the journal entries to record the following transactions. (Round answer to 2 decimal places, eg. 38.548.25. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries) 1. The issuance of the bonds on June 30, 2025. 2. The payment of interest and the amortization of the premium on December 31, 2025. 3. The payment of interest and the amortization of the premium on June 30, 2026. 4. The payment of interest and the amortization of the premium on December 31, 2026. ate Account Titles and Explanation 15 Cash Debit $247120 Bonds Payable Premium on Bonds Payable 31.2025 Interest Expense 314827 Premium on Bonds Payable 2373 Ch Credit 48800XXX 367120 317200 Long-Term Johnson Company Balance Sheet December 21, 2028 Premium Bonds Payable 0000000 33565 Book Value of Bonds Feb 2 (c) Provide the answers to the following questions 1. What amount of interest expense is reported for 2026 Bound answer to 2 decimal place Interest expense reported for 2026 2. Will the bond interest expense reported in 2026 be the same as greater than or less than the amount that would be reported the straight line method of amortisation were The bond interest expense reported in 2006 will be r the amount that would be reported if the straight line i 3. Determine the total cost of borrowing over the life of the bonded and 3854 Total cost of borrowing over the life of the bond 3 4 Will the total bond interest expense for bond be greater than The total bond interest expense for the life of t the total interest expense e straight