Question: Presented below is a partial amortization schedule for Premium Pizza. 1. Record the bond issue. 2. Record the first interest payment. 3. Explain why interest

Presented below is a partial amortization schedule for Premium Pizza.

Presented below is a partial amortization schedule for Premium Pizza.

1. Record the bond issue.
2. Record the first interest payment.
3. Explain why interest expense decreases eachperiod.

Carrying Cash Paid for Interest Expense Carying Value Interest Decrease in Period $76,860 76,716 76,567 Issue date S2,450 2,450 $2,306 2,301 $144 149

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