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Knowledge Check U$1$

Hillinger, Incorporated issues $$100,000$ of $4\%$ bonds on January $1,$ Year $1.$ The bonds have a five$-$year term and pay interest semiannually on June $30$ and December $31$ each year. Assuming a market interest rate of $5\%$ and an issue price of $$95,624,$ what is the carrying value of the bonds as of June $30,$ Year $1?$

Use the sample amortization table as a reference to assist with your answer.

$\backslash$table$[[$Date$,$Cash Paid,Increase in$],[\backslash$table$[[$Interest$],[$Expense$]],\backslash$table$[[$Carrying$],[$Value$]],\backslash$table$[[$Carrying$],[$Value$]]],[\frac{1}{1}\frac{?}{?}$ Year $1,,,,$$$95,624$