(Solved): On February 1, 2021, Nikawi Ltd. issued a 4\%, 8-year bond with a face value of $480,000. The semi- ...

On February 1, 2021, Nikawi Ltd. issued a 4\%, 8-year bond with a face value of $$\$480,000$$. The semi-annual interest (coupon) payments are made on January 31 and July 31. Nikawi Ltd. receives $$\$448,668$$ in cash. The company uses the effective interest method. The market rate is $$5\%$$. Requirement 1: Prepare a bond amortization table for the first two semi-annual interest periods. Requirement 2: Record the journal entries for the issuance of the bond on February 1,2021 and the semi-annual interest payments for July 31,2021 and January 31, 2022. Please fill out the blanks below. After submitting the exam, upload your calculations and journal entries to the dropbox. Blank \#1: What is the interest payment on July 31, 2021? Blank \#2: What is the interest expense on July 31, 2021? Blank \#3: What is the carrying amount of the bond on July 31, 2021? Blank \#4: What is the interest payment on January 31, 2022? Blank \#5: What is the interest expense on January 31, 2022? Blank \#6: What is the carrying amount of the bond on January 31, 2022? Required format for entering numbers: only enter plain amounts, no $$\$$$-signs or