Problem $14-3($Algo$)$ Straight$-$line and effective interest compared $[$LO$14-2]$

On January $1,2024,$ Reyes Recreational Products issued $$150,000,9\%,$ four$-$year bonds. Interest is paid semiannually on June $30$ and December $31.$ The bonds were issued at $$145,153$ to yield an annual return of $10\%.$

Required:

$1.$ Prepare an amortization schedule that determines interest at the effective interest rate.

$2.$ Prepare an amortization schedule by the straight$-$line method.

$3.$ Prepare the journal entries to record interest expense on June $30,2026,$ by each of the two approaches.

$5.$ Assuming the market rate is still $10\%,$ what price would a second investor pay the first investor on June $30,2026,$ for $$15,000$ of the bonds?

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$