P15.9A (LO 4, 6) Financial Statement On January 1, 2020, Jade Company issued Prepare journal entries to recond 52.000,000 face value, 7%, 10-year bonds at S2 147,202. This price resulted in a 6% effective interest lituace of bonds, payment of inten and rate on the bonds. Jade uses the effective-interest method to amortize bond premium or discount. The - bonds pay annual interest on each Januaryl 15-38 CHAPTER 15 Long-Term Liabilities Instructions Prepare the journal entries to record the following transactions. 1. The issuance of the bonds on January 1, 2020. 2. Accrual of interest and amortization of the premium on December 31, 2020 3. The payment of interest on January 1, 2021. 4. Accrual of interest and amortization of the premium on December 31, 2021. a. a. 4. Interest b. Show the proper long-term liabilities balance sheet presentation for the liability for bonds paya Expense $128,162 at December 31, 2021. c. Provide the answers to the following questions in narrative form. 1. What amount of interest expense is reported for 2021? 2. Would the bond interest expense reported in 2021 be the same as, greater than, or less than amount that would be reported if the straight-line method of amortization were used