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5. On January 1, 2020, Max Co. issued ten-year bonds with a face value of $5,000,000 and a coupon rate of 5%, with interest payable semiannually on July 1 and January 1. The bonds were sold to yield 6%. REQUIRED (SHOW ALL CALCULATIONS): (ROUND ALL TO NEARIST WHOLE DOLLAR) (a) Calculate the issue price of the bonds. (b) Ignore your to your answer in part (a) and assume that the issue price was $4,600,000. Prepare the amortization table for the 1/1/20, 7/1/20 and 1/1/21, assuming that amortization is recorded on interest payment dates using the effective interest method. Assuming the selling price was $4,600,000, prepare the journal entries to: 1. Record the sale of the bond 2. Record the payment of interest and amortization of the premium or discount on July 1, 2021 3. Record the accrual of interest AND amortization of discount on December 31, 2021. 5. On January 1, 2020, Max Co. issued ten-year bonds with a face value of $5,000,000 and a coupon rate of 5%, with interest payable semiannually on July 1 and January 1. The bonds were sold to yield 6%. REQUIRED (SHOW ALL CALCULATIONS): (ROUND ALL TO NEARIST WHOLE DOLLAR) (a) Calculate the issue price of the bonds. (b) Ignore your to your answer in part (a) and assume that the issue price was $4,600,000. Prepare the amortization table for the 1/1/20, 7/1/20 and 1/1/21, assuming that amortization is recorded on interest payment dates using the effective interest method. Assuming the selling price was $4,600,000, prepare the journal entries to: 1. Record the sale of the bond 2. Record the payment of interest and amortization of the premium or discount on July 1, 2021 3. Record the accrual of interest AND amortization of discount on December 31, 2021