Please answer these questions with an explanation so that I can understand how you got to them.

Problem 3 {25 points} Culture Co. builds a new museum 3!. arena. Culture borrows $15,D, by issuing IIIyear, 4% bonds, priced to yield 5%, to finance the construction. The bonds were issued on Mid pay interest annually on each December 31. Instructions {a} Prepare the journal entry to record the issuance of the bonds on January 13 2013, assuming the effective interest method is used to record interestl (h) Determine the amount of interest expense {not cash pamentl recorded on the bonds each year at 12531, and the present value of the bonds aer the payment at each of the dates shown below= using the eecye interest method. Date tool: 1Value c) Please record the entry made for interest expense at 123132013- d) Assume that on June 30, 2021 [after 312": years], Culture retires 513% of the bonds at a price of ll plus accrued interest i] Prepare the journal entry to reoord this retirement. Note: You must adjust the PV of the bonds to June 3|], Zll (accrue interest, etc)- e) Please provide an entry for the payment of the accrued cash interest due at the retirement date. You need not include the interest expense amount