Real World Case $141($Static$)$ Zero$-$coupon debt; HP Incorporated $[$LO$142]$HP Incorporated $($formerly Hewlett$-$Packard Company$)$ issued zero$-$coupon notes at the end of its $1997$ fiscal year that mature at the end of its $2017$ fiscal year. One billion, eight hundred million dollars face amount of $20-$year debt sold for $$968$ million, a price to yield $3\mathrm{.}149\%.$ In fiscal $2002,$ HP repurchased $$257$ million in face value of the notes for a purchase price of $$127$ million, resulting in a gain on the early extinguishment of debt.Required:What journal entry did HP Incorporated use to record the sale in $1997?$Prepare an amortization schedule for the notes. Assume interest is calculated annually.What was the effect on HP$$s earnings in $1998?$ Assume that the tax rate was $35\%.$From the amortization schedule, determine the book value of the debt at the end of $2002.$What journal entry did HP Incorporated use to record the early extinguishment of debt in $2002,$ assuming the purchase was made at the end of the year?If none of the notes is repaid prior to maturity, what entry would HP use to record their repayment at the end of $2017?$