Sunday sold bonds on January 1, 2017 with a face value of $50,000. These bonds carry a coupon interest rate of 8% and term to maturity of 5 years. The bonds were issued when the market rate was 9%. When Payday purchased these bonds on January 1, 2019, the market rate was 10%. Both companies use the Effective Interest method to amortize the premium/discount on the bonds.

Using TVM principles:

a. Calculate how much Sunday Company received on January 1st 2017 for issuance of the bonds. Round to the nearest dollar.

b. Calculate how much Payday Company paid to purchase the bonds on January 1st 2019. Round to the nearest dollar.

c. Prepare one bond amortization schedule for both the issuer and purchaser. Round each figure to the nearest dollar.