Presented below is a partial amortization schedule for a business.

(1)		(2)				(3)				(4)					(5)
Period		Cash Paid for Interest				Interest Expense				Increase in Carrying Value					Carrying Value
Issue date														$	64,097
1		$	2,070			$	2,243			$	173				64,270
2			2,070				2,249				179				64,449
Record the bond issue and first interest payment assuming the face amount of bonds payable is $69,000. 1 Cash Discount on Bonds Payable Bonds Payable 69,000 2 Interest Expense Discount on Bonds Payable Cash