PA10-6 (Algo) (Supplement 10A) Recording Bond Issue, Interest Payments (Straight-Line Amortization), and Early Bond Retirement [LO 10-S1) On January 1, 2021, Loop Raceway issued 540 bonds, each with a foce value of $1.000, a stated interest rate of 6 percent paid annually on December 31, and a maturity date of December 31, 2023. On the issue date, the market interest rate was 7 percent, so the total proceeds from the bond issue were $525.829. Coop 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 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, et a price of 97 Complete this question by entering your answers in the tabs below. Rea 1 Reg 2 to 5 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 value payment on December 31, 2023 and the bond retirement. Assume the bonds are retired on January 1, 2023, at a price 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 Ending Bond Liability Balances Period Ended Cash Pald Discount Amortized Interest Expense Bonds Payable Discount on Bonds Payable Carrying Value $ 01/01/21 12/31/21 12/31/22 $ 0 0 OOO 0 0 12/31/23 Req2 to 5 > REY4 REY 2 L 3 Prepare the journal entries to record the bond issue, the interest payments on December 31, 2021 and 2022, the interest payment on December 31, 2023 and the bond retirement. Assume the bonds are retired on January 1, 2023, at a price of entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the issuance of 540 bonds at face value of $1,000 each for $525,829. Note: Enter debits before credits Date General Journal Debit Credit January 01, 2021 View transaction list Journal entry worksheet Record the interest payment on December 31, 2022. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2022