Question: Presented below is a partial amortization schedule for Discount Foods: Cash Paid Period Issue Date Interest Expense Increase in Carrying Value $396 412 Carrying Value

Presented below is a partial amortization schedule for Discount Foods: Cash Paid Period Issue Date Interest Expense Increase in Carrying Value $396 412 Carrying Value $74,900 75,296 75,708 $2,600 2,600 $2,996 3,012 11 Required: 1. & 2. Record the bond issue assuming the face value of bonds payable is $85,000 and first interest payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet

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