TABLE 14A.1 Present Value of 1 Due Inn Periods Rate Periods 2% 3% 5% 6% 7% 8% 9% 10% 12% 15% 1 0.9901 0.9804 0.9709 0.9615 0.9524 0.9434 0.9346 0.9259 09174 09091 0.8929 0.8696 2 0.9803 0.9612 0.9426 0.9246 0.9070 0.8900 0.8734 0.8573 0.841708264 0.7972 0.7561 3 0.9706 0.9423 09151 0.8890 0.8638 0.8396 0.8163 0.7938 0.7722 0.7513 0.7118 06575 4 0.9610 0.9238 0.8885 0.8548 0.8227 0.7921 0.7629 0.7350 0.7084 0.6830 0.6355 05718 5 0.9515 0.9057 0.8626 0.8219 0.7835 0.7473 0.7130 0.6806 0.6499 0.6209 0.5674 0.4972 6 0.9420 0.8880 0.8375 0.7903 0.7462 0.7050 0.6663 0.6302 0.5963 0.5645 0.5066 0.4323 7 0.9327 0.8706 0.8131 0.7599 0.7107 0.6651 0.6227 0.5835 0.5470 0.5132 0.4523 0.3759 8 0.9235 0.8535 0.7894 0.7307 0.6768 0.6274 0.5820 0.5403 05019 0.4665 0.4039 0.3269 9 0.9143 0.8368 0.7664 0.7026 0.6446 0.5919 0.5439 0.5002 0.4604 0.4241 0.3606 0.2843 10 0.9053 0.8203 0.7441 0.6756 0.6139 0.5584 0.5083 0.4632 0.4224 0.3855 0.3220 02472 11 0.8963 0.8043 0.7224 0.6496 0.5847 0.5268 04751 0.4289 03875 0.3505 02875 0.2149 12 0.8874 0.7885 0.7014 0.6246 0.5568 0.4970 0.4440 0.3971 0.3555 0.3186 0.2567 0.1869 13 0.8787 0.7730 0.6810 0.6006 0.5303 0.4688 0.4150 0.3677 0.3262 0.2897 0.2292 0.1625 14 0.8700 0.75790.6611 0.5775 0.5051 0.4423 0.3878 0.3405 0.2992 0.2633 0.2046 0.1413 15 0.8613 0.7430 06419 0.5553 0.4810 0.4173 0.3624 0.3152 0.27450.2394 0.1827 0.1229 16 08528 0.7284 0.6232 0.5339 0.4581 0.3936 0.3387 0.2919 0.2519 0.2176 0.1631 0.1069 17 0.8444 0.7142 0.6050 0.5134 0.4363 0.3714 0.3166 0.2703 0.2311 0.1978 0.1456 00929 18 08360 0.7002 0.5874 0.4936 0.4155 0.3503 0.2959 0.250202120 0.1799 0.1300 00808 19 0.8277 0.6864 0.5703 0.4746 0.3957 0.3305 0.2765 0.2317 0.1945 0.1635 0.1161 00703 20 08195 0.6730 0.5537 0.4564 0.3769 0.3118 0.2584 0.2145 0.1784 0.1486 0.1037 00611 25 0.7798 0.609504776 0.3751 0.29530.2330 0.1842 014600 1160 0.0923 00588 00304 30 0.7419 05521 0.4120 0.3083 0.2314 0.1741 0.1314 0.0994 0.0754 00573 0.0334 0.0151 35 0.7059 0.500003554 02534 0.181301301 0.0937 00676 0049000356 00189 0.0075 40 06717 0.45290 3066 0 2083 0.1420 0.0972 0.0668 0.0460 0.0318 0.0221 0.0107 0.0037 TABLE 14A.2 Present Value of an Annulty of 1 Period Rate 7% Periods 2% 5% 10% 12% 15% 1 0.9901 0.9804 0.9709 0.9615 0.9524 0.9434 0.9346 0.9259 0.9174 0.9091 0.8929 0.8696 2 1.9704 1.9416 1.9135 1.8861 1.8594 1.8334 1.8080 1.7833 1.7591 1.7355 1.6901 1.6257 3 29410 28839 2.8286 2.7751 2.7232 2.6730 2.6243 2.5771 2.5313 2.4869 24018 2.2832 4 3.9020 3.8077 3.7171 3.6299 3.5460 3.4651 3.3872 3.3121 3.2397 3.1699 3.0373 28550 5 4.85344.71354.5797 4.4518 4.3295 4.2124 4.1002 3,9927 38897 3.7908 3.6048 3.3522 6 5.7955 5.6014 5.4172 5.2421 5.0757 4.9173 4.7665 4.6229 4.4859 4.3553 4.1114 3.7845 7 6.7282 6.4720 6.2303 6.0021 5.7864 5.5824 5.3893 5.2064 5.0330 4.8684 4.5638 4.1604 8 7.6517 7.3255 7.0197 6.7327 6.4632 6.2098 5.9713 5.7466 5.5348 5.3349 4.9676 4.4873 9 8.5660 8.1622 7.7861 7.4353 7.1078 6.8017 6.5152 6.2469 5.9952 5.7590 5.3282 4.7716 10 9.4713 8.9826 8.5302 8.11097.7217 7.3601 7.0236 6.7101 6.4177 6.1446 5.6502 5.0188 11 10.3676 9.7868 9.2526 8.7605 8.3064 7.8869 7.4987 7.1390 6.8052 6.4951 5.9377 5.2337 12 11.2551 10.5753 9.9540 9.3851 8.8633 8.3838 7.9427 7.5361 71607 6.8137 6.1944 5.4206 13 12.1337 11 3484 10.6350 9.9856 9.3936 8.8527 8.3577 7.9038 7.4869 7.1034 6.4235 55831 14 13.0037 12.1062 11.2961 10.5631 9.8986 9.2950 8.7455 8.2442 7.78627.3667 6.6282 57245 15 13.8651 12 8493 119379 11.1184 10.3797 9.7122 9.1079 8.5595 80607 7.6061 68109 5.8474 16 14.7179 13.5777 12.5611 11.6523 10.8378 10.1059 9.4466 8.8514 8.3126 7.8237 6.9740 59542 17 15.5623 14 2919 13.1661 12.1657 11:2741 10.4773 9.7632 9.1216 8.5436 8.0216 7.1196 6.0472 18 16 3983 14.9920 13.7535 12 6593 11.6896 10 8276 10.05919.3719 8.7556 8.2014 72497 6.1280 19 17 2260 15.6785 14 3238 13.1339 12.0853 11.1581 10.3356 9.6036 8.9501 8.3649 73658 6.1982 20 18.0456 16.3514 14.8775 13.5903 12.4622 11 4699 10.594098181 9.1285 8.5136 74694 6.2593 22.0232 19.5235 17 4131 15 6221 14.0939 127834 11.6536 106748 982269.0770 7 8431 6.4641 30 25 8077 22.3965 19.6004 17.2920 15 3725 13.7648 12.4090 11 2578 10 2737 94269 80552 6.5660 35 29.4086 249986 21.4872 18.6646 16.3742 14 4982 12.9477 11 6546 10 5668 96442 8.1755 6.6166 32.8347 273555 23.114819 7928 17.1591 15.0463 133317 11 9246 10 7574 9.7791 8.2438 6.6418 25 Banjo Education Corp. issued a 4%, $80,000 bond that pays interest semiannually each June 30 and December 31. The date of issuance was January 1, 2020. The bonds mature after four years. The market interest rate was 6%. Banjo Education Corp.'s year-end Is December 31. Use TABLE 14A1 and TABLE 14A.2 (For all the requirements. Use oppropriate factor(s) from the tables provided.) Required: Preparation Component: 1. Calculate the issue price of the bond. (Round the final answer to the nearest whole dollor.) Issue price of the bond 2. Prepare a general journal entry to record the issuance of the bonds. (Do not round Intermediate calculations. Round the final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 Record the sale of bonds on original issue date. Note: Enter debits before credits Date Debit General Journal Credit January 01, 2020 Clear entry Record entry View general joumal 3. Determine the total bond interest expense that will be recognized over the life of these bonds. (Do not round Intermediate calculations. Round your answer to the nearest whole dollar.) Totalbona 4. Prepare the first two years of an amortization table based on the effective interest method. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) Period Ending Cash Interest Paid Period Interest Expense Discount Amort. Unamortized Discount Carrying Value Jan 1/20 June 30/20 Dec 31/20 June 30/21 Dec 31/21 5. Present the journal entries Banjo would make to record the first two interest payments. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar) View transactio list 1 Record the six months' interest and discount amortization 2. Record the six months' interest and discount amortization Credit Note - Journal entry has been entered Record entry Clear entry View general Journal