Using a Discount Amortization Tabie (Straight Line) Panamint Candy Company prepared the following amortization table for $500,000 of 5y yac, 9.2% bonds issued and sold by Panamint on January 1,2025 , for $440,000 : Required 1. Prepare the entry to recogaize the sale of the bonds on january 1, 2025, If an amourt box does not require an entry, lesve it blank. F Chech My Wok 2. An amortization table helps caiculate the proper amortizatson of bond premilum or discount. They are particularly heipful when the effective interest rate method is used; hawever, thils problem arnortires the peemium using the straight-lige method 3. Determine the interest expense for these bonds that Panamint will report on its 2027 income statement. 4. Indicate hew these bonds will appeor in Panamint's December 31, 2028, balance sheet