Question: please solve it correctly and complete answer Problems (70%) 1. On Jan 1, 2024, Ponasis Corporation issued $2.5M, 10-year Bonds. The bonds pay semi-annual interest

please solve it correctly and complete answer

Problems (70%) 1. On Jan 1, 2024, Ponasis Corporation issued \$2.5M, 10-year Bonds. The bonds pay semi-annual interest on July 1 and Jan 1 , and Ponasis has a Dee 31 year end. Below is the partial amortization table for the bond. The bond was RETIRED on Jan 22027 at 98. Was the bond issued at a Premium or Discount? Find the missing values (1) to (5) and prepare Journal Entries when the Bond was issued, the first interest payment, and its retirement. (18 marks)

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