Brief Exercise 9-14 Interpret a bond amortization schedule (LO9-6)

Presented below is a partial amortization schedule for Discount Pizza.

(1)	(2)	(3)	(4)	(5)
Period	Cash Paid for Interest	Interest Expense	Increase in Carrying Value	Carrying Value
Issue date				$52,072
1	$1,995	$2,083	$88	52,160
2	1,995	2,086	91	52,251

1. & 2. Record the bond issue and first interest payment assuming the face value of bonds payable is $57,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Question:

First journal: Record the issuance of bond.

what is the discount on bonds payable?

what is cash?

Second journal: Record the first interest payment.

what is the interest expense? what is the discount on bonds payable? what is the cash amount?