Show me the steps to solve The market rate of interest on the date of the bond issue was $4\%.$ The company's fiscal year ends on December $31.$

Future Value of $$1$ table Future Value of an Ordinary Annuity table Future Value of an Annuity Due table

Present Value of $$1$ table Present Value of an Ordinary Annuity table Present Value of an Annuity Due table

Read the requirements.

factor amounts rounded to five decimal places, X$.$XXXXX$.$ Round your final answers to the nearest whole dollar.$)$

The issue price of the debt $=$

Requirements

a$.$ Determine the issue price of the debt.

b$.$ Prepare the amortization table for the bond issue through January $1,2025,$

assuming that Sanderson Road uses the effective interest rate method of

amortization.

c$.$ Prepare the journal entries to record the bond issue, the first interest entry,

and payment of the bonds at maturity. Assume that the company uses a

premium or discount account if needed.