. POLO 3.4.6)AP on January 1, 2023. Opal Company issued $2,000,000 face value 7, 10-year bonds at 5.147.209. This price resulted in a 6% effective interest rate on the bonds Opal uses the effective interest method to Amortize bond premium or discount. The bonds pay annual interest on each January 1. Prepare journal entries to record issuance of bonds, payment of interest, and effective interest amortization, and balance sheet presentation Instructions a. Prepare the journal entries to record the following transactions 1. The issuance of the bonds on January 1, 2022 2. Aceral of interest and amortization of the premium on December 31, 2020 3. The payment of interest on Jamuary 1, 2023, 4. Accrual of interest and amortization of the premium on December 31, 2023. Interest Expense $198.16 b. Show the proper long-term dinbilities balance sheet presentation for the liability for bonds payable at December 31, 2003 c. Provide the answers to the following questions in tarrative form 1. What amount of interest expense is reported for 2023 2. Would the bond interent expense reported in 2023 be the same as greater than or less than the amount that would be reported if the straight-line method of attortization were used