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Styles In order to provide funding for its Accounting Lovers' Center project, Harris Development issued 9% bonds with a face amount of $520,000 on November

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Styles In order to provide funding for its Accounting Lovers' Center project, Harris Development issued 9% bonds with a face amount of $520,000 on November 1, 2021. The bonds sold for $475,389, a price to yield the market rate of 10%. The bonds mature October 31, 2041 (20 years). Interest is paid semiannually on April 30 and October 31 and is determined using the effective interest method. The fiscal year ends December 31 for Harris Development. Required: 1. Prepare an amortization schedule through 4 30 24 and record any necessary joumai entries from issuance of the bonds at 11/121 to 12/31 23. 2. What amount of interest expense related to the bonds will Harris report in its income statement for the year ending December 31, 20211

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