Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Premium Mitchell Inc. issued 120, 6%, $1,000 bonds on January 1, 2020. The bonds pay cash interest annually each December 31 and were issued to yield 5%. The bonds mature December 31, 2024, and the company uses the effective interest method to amortize bond discounts or premiums. Required a. Determine the selling price of the bonds. Round amount to the nearest whole dollar. b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. December 31, 2020, interest payment. 3. December 31, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries a. Selling price of bonds $ Check eBook Print Question 2 Not complete Marked out of 52.00 P Fleg question Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Premium Mitchell Inc. issued 120, 6%, $1,000 bonds on January 1, 2020. The bonds pay cash interest annually each December 31 and were issued to yield 5%. The bonds mature December 31, 2024, and the company uses the effective interest method to amortize bond discounts or premiums Required a. Determine the selling price of the bonds, Round amount to the nearest whole dollar, b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. December 31, 2020, interest payment. 3. December 31, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries . Note: Round amounts in schedule to the nearest whole dollar. Use rounded amounts for later calculations in the schedule. Note: Include any net rounding difference for Bond Payable, Net in the interest expense amount for Dec 31, 2024. Cash Interest Expense Discount Amortization Bonds Payable, Net Date Jan. 1, 2020 Dec. 31, 2020 $ Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Total Check Question 2 Not complete Marked out of 52.00 P Flag question Recording Bond Entries and Preparing an Amortization Schedule-Effective Interest Method, Premium Mitchell Inc, issued 120,6%, $1,000 bands on January 1, 2020. The bonds pay cash interest annually each December 31 and were issued to yield 5%. The bonds mature December 31, 2024, and the company uses the effective interest method to amortize bond discounts or premiums. Required a. Determine the selling price of the bonds. Round amount to the nearest whole dollar. b. Prepare an amortization schedule for the full bond term. c. Prepare journal entries on the following dates. 1. January 1, 2020, bond issuance. 2. December 31, 2020, interest payment. 3. December 31, 2021, interest payment. Bond Selling Price Amortization Schedule Journal Entries Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Date Account Name Dr. Cr. 1. an. 1, 2020 2. Dec. 31, 2020 3. Dec 31, 2021