PART II Bond Problem 50 Points Sal Minella owns a that exclusively features poultry on the menu. Due to problems with suppliers he wants to vertically integrate his operation from merely a restaurant to raising the chickens as well as cooking, roasting, baking, grilling, and frying them. He believes that this strategy will enable him to control the entire process so as to increase quality while also reducing costs and enhance the dining experience of his clientele (they are clientele, not customers for this is a five and half star restaurant). In order to start the chicken farming division, he issues $100,000 (face value) of bonds. The entire issue was sold on October 1, 2020 and will mature on October 1, 2025. The face rate of interest on the bonds is 6% and the market rate of interest is 8%. Interest is paid every six (6) months on April 1st and October 1st. The proceeds from the sale of the bonds was $91,890. REQUIRED: a) Complete the second and third rows of the table provided calculating the book values of the bonds, the interest payments, the interest expense, the amortization of the discount or premium if there is any, the unamortized premium or discount if any for the first two interest payments. (YOU WILL NEED THIS INFORMATION TO COMPLETE SECTIONS "d", "e", and "f") b) State whether the bonds sold at face value, at a premium, or at a discount and support your choice (State the reason why you picked the option you did). c) Prepare the journal entry to record the sale of the bonds. d) Prepare any adjusting entry that may be needed for the bonds on December 31., 2022 or explain why one is not needed. e) Prepare the journal entry to record the interest payment on April 1, 2021. f) Prepare the journal entry to record the interest payment on October 1, 2021.