PB10-6 (Supplement 10A) Recording Bond Issue, Interest Payments (Straight-Line Amortization), and Early Bond Retirement [LO 10-S1) On January 1, 2018, Methodical Manufacturing Issued 100 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2020. On the issue date, the market Interest rate was 4.25 percent, so the total proceeds from the bond issue were $102,070. Methodical 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 required Journal entries to record the bond issue, Interest payments on December 31, 2018 and 2019, the Interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 102 Complete this question by entering your answers in the tabs below. Req1 Reg 2 to 5 Prepare a bond amortization schedule. Changes During the Period Ending Bond Liability Balances Cash Pald Premium Amortired Perlod Ended Interest Expense Premium on Bonds Payable Bonds Payable Carrying Value 01/01/15 12/31/15 12/31/16 12/31/17 Reg 2 to 5 > Journal entry worksheet 1 2 3 4 5 Record the Issuance of 100 bonds at face value of $1,000 each for $102,070. Note: Enter debits before credits Date Debit General Journal Credit Jan 01, 2018 Record entry Clear entry View general Journal Record the interest payment on December 31, 2018. Note: Enter debits before credits. General Journal Date Dec 31, 2018 Debit Credit Record entry Clear entry View general Journal