Question: Part I Below is an amortization table for the Jet Company's 10-year bond payable. Using the information in the table, answer the following questions.

Part I Below is an amortization table for the Jet Company's 10-year bond payable. Using the information in the table, answer the following questions.

Part I Below is an amortization table for the Jet Company's 10-year bond payable. Using the information in the table, answer the following questions. Place your answers in the space provided. Period 0 1 Interest Amorti- Carrying Cash Expense zation Value 941,110 100,000 103,522 (3,522) 944,632 2 100,000 103,910 (3,910) 948,542 3 100,000 104,340 (4,340) 952,881 4 100,000 104,817 (4,817) 957,698 5 100,000 105,347 (5,347) 963,045 6 100,000 105,935 (5,935) 968,980 7 100,000 106,588 (6,588) 975,568 8 100,000 107,312 (7,312) 982,880 6 100,000 108,117 (8,117) 990,997 10 100,000 109,003 (9,003) 1,000,000 1. What is the bond's stated rate of interest? 2. What was the market rate of interest when the bonds were issued? 3. Prepare the journal entry to make the interest payment for period 4. Go To The Next Page

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