33 Part 2 of 3 0.54 points Required information Problem 7-33 (Algo) Bonds payable-calculate issue price and amortize discount LO 7-8 [The following information applies to the questions displayed below.] On January 1, 2022, Drennen, Incorporated, issued $3.1 million face amount of 10-year, 10% stated rate bonds when market interest rates were 8%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2028. Table 6-4, Table 6-5 Note: Use appropriate factor from the table provided. eBook Print Problem 7-33 (Algo) Part b - Horizontal model References b-1. Assume instead that the proceeds were $3,051,000. Use the horizontal model to record the payment of semiannual interest and the related discount amortization on June 30, 2022, assuming that the discount of $49,000 is amortized on a straight-line basis. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Balance Sheet Assets Liabilities Cash (155,000) Discount on bonds payable Check my work Income Stat Stockholders' Equity Net Income Revenues