You must use a journal form to record the transactions and show all calculations to receive credit.

Ellis issues $$250,000,6\mathrm{.}5\%,5-$year bonds dated January $1,2023.$ The bonds pay interest semi$-$annually on June $30$ and December $31.$ The bonds were issued at $$255,330.$

Record the journal entry to issue the bonds on January $1,2023.$

a$.$ Record the journal entry to pay the semi$-$annual interest payment and amortize the premium on June $30,2023.$

b$.$ Record the journal entry to pay the semi$-$annual interest payment and amortize the premium on Dec. $31,2023.$

On September $1,2026,$ Ellis calls the bonds at $99.$ Record the journal entry to call the bonds.

What is the total interest expense for the bonds for:

a$.$ One full year?

b$.$ The entire $5-$year life of the bond? $($if the bond had been held until maturity$)$

What is the carrying value of the bonds on:

a$.$ December $31,2023?$

b$.$ December $31,2024?$