Prepare journal entries for the following

On 8/1/20 Wiley issued $500,000 in 6% 5 year bonds when the effective interest rate was 4%. The bonds pay interest on 8/1 and 2/1 each year. Wiley has a 12/31 year end.

1. Compute the issuance price and prepare an amortization table.
2. Prepare journal entries for the bonds for 2020 and 2021, dont forget year-end adjustments. Assume no reversing entries.
3. Repeat step b assuming reversing entries.
4. Show the balance sheet presentations for the bonds on 12/31 for 2020 and 2021. (Make a t-account to keep track of the premium/discount)
5. Compute the total cost of borrowing for the bond.