On May $1,2023,$ Leo Inc. $($Leo$)$ issued $$20,000,000$ in bonds with a stated rate of $6\%$ and a maturity date

of April $30,2027.$ Interest will be paid semi$-$annually on April $30$ and October $31.$ Leo$$s year$-$end is

December $31.$ The market rate of interest for bonds of this type was $8\%$ on May $1,2023.$ The bond$$s

issuance price was $$18,653,620.$ Leo uses the effective interest rate method of amortization for any

discount or premium.

Required:

Journalize May $1,2023$

Cash $18,653620$

Discount on Bond Payable $1,346,380$

Bond Payable $20,000,000$

Journalize October $31,2023$

What is this bond Balance Sheet presentation

Make a discount amortization table for the bond for $2023$ & $2024$

Discount on Bond

Payable

Interest Payment Interest Expense Amortization

of Discount

Journalize December $31,2023$

Journalize April $30,2023$

On May $1,2024,$ the sold the bond at $99,$ please journalize the transaction.