When interest-bearing bonds are issued at a discount, the interest expense for the period is the amount of interest payment for the period plus the discount amortization for the period. Under the effective interest rate method, a constant (or effective) rate of interest on the bond book (or carrying) value is allocated to the period. Information: On December 31, 2021, Brannigan Co issued $1,000,000 of 8 percent bonds, due in five years with interest payable annually on December 31. The market rate of interest is 9 percent. Assume the bond was issued at $961,103. Required: 1. Complete an amortization table for each of the five annual periods. 2. Prepare the journal entry necessary to (a) recognize the interest expense on December 31, 2022 and 2023 and (b) record the repayment of the loan principal on December 31, 2026.