3 Dashboard Technologies Ltd. issued bonds with a face value of $70 million that mature in 15 years. The bonds carry 4 a 5.0% interest rate and are sold at 106.00 to yield 4.45%. The bonds pay interest semi-annually. 5 6 Required a) Complete the first four payments of the bond amortization schedule below: Amortization Interest Date Payment Interest Expense of Bond Premium Balance of Bond Premium Carrying Value of Bonds. 10 Issuance 11 Payment 1 12 Payment 2 13 Payment 3 14 Payment 4 15 16 17 b) Why is the carrying value of the bonds at issuance not the same as the face value? 18 19 20 21 22 23 24 25 26 27 26 28 c) What is the carrying value of the liability for these bonds at the end of payment 4? 33 d) Show the journal entry to record payment 4 on these bonds. Ignore year-end accruals of interest. 34 35 Date 36 37 38 39 40 41 42 43 44 45 46 147 48 49 Account Debit Credit