Banjo education corp issued a $4\%,$ $$110000$ bond that pays interest semiannually each June $30$ and December $31.$ The date of issuance was January $1,2023.$ The bonds mature after four years. The market interest rate was $6\%.$ Banjo education corps end year is December $31.$ Use table $14$a$\mathrm{.}1$ and table $14$a$\mathrm{.}2.$

$1.$ Calculate the issue price of the bond.

$2.$ Prepare a general journal entry to record the issuance of the bonds.

$3.$ Determine the total bond interest expense that will be recognized over the life of these bonds.

$4.$ Prepare the first two years of an amortization table based on the effective interest method. Record cash interest paid, period interest expense, discount amortization, unamortized discount and carrying value for each June $30$ and December $31$ for the first two years.

$5.$ Present the journal entries banjo would make to record the first two interest payments.