$$Yellow Sheet Importers recently financed a multi$-$state expansion by issuing $$50,000,000$ in $20-$year bonds with a stated interest rate of $10\%.$ The bonds were issued to yield $9\%.$ The bonds pay interest twice per year. Yellow Sheet included a call feature that allows the company to repurchase all of the bonds after they have been outstanding for at least $2$ years. In the event of a call, Yellow Sheet will pay bondholders the current market price plus $$50$ per $$1,000$ bond $($there are $50,000$ of them$).$ 

 

Required:

a$.$ Prepare the bond amortization schedule for the full $20-$year period.

b$.$ Prepare the journal entry to record the issuance of these bonds.

c$.$ Prepare the journal entry to record the fourth interest payment.

d$.$ Assume that Yellow Sheet calls $100\%$ of the bonds at the end of year $4($interest payment $8).$ The market price at that time is $$54,000,000.$ Prepare the journal entry to record the call.