On March $1,2022,$ Havenford Corporation issued $$240,000,4$ year, $6\%$ bond. Interest is to be paid semi$-$annually September $1$ and March $1.$ The market rate for similar bonds was $5\%$ at the time the bonds were sold.Havenford Corporation has a April $30$ year end and uses the effective interest method to amortize any discount or premium.On September $2,2024,$ Havenford redeemed $48\%$ of the face value of these bonds at $101$ and retired them$\mathrm{.}1.$ Calculate the PV of the bonds

$2.$ Complete the amortization table using the effective interest method.

$3.$ Record the following journal entries in the table below. i$)$ Prepare the journal entry to record the issuance of the bond.

ii$)$ Prepare the journal entry to accrue the bond interest at corporate year end.

iii$)$ Prepare the journal entry to record the first interest payment

$.$ iv$)$ Prepare the journal entry for the retirement of the bonds.Please do it properly correctly and with all the steps or calculations

 

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