Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Premium Mitchell Inc. issued 96,6%, $1,000 bonds on January 1, 2020. The bonds pay cash interest annually each December 31 and were issued to yield 5%. The bonds mature December 31, 2024, and the company uses the effective interest method to amortize bond discounts or premiums. Required a. Determine the selling price of the bonds. Round amount to the nearest whole dollar. b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates, 1. January 1, 2020, bond issuance. 2. December 31, 2020, interest payment. 3. December 31, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries C Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Cr. Dr. 43,838 x 0 42,000 x 1,838 * Date Account Name 1. Jan 1, 2020 Cash Bonds Payable Premium on Bonds Payable 2. Dec 31, 2020 Interest Expense Premium on Bonds Payable Cash 3. Dec. 31, 2021 Interest Expense Premium on Bonds Payable Cash 1,096 x 164 X 0 0 1,260 X * 0 1,092 X 168 X 0 1,260 X x