Presented below is a partial amortization schedule for Discount Foods Period Issue Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value $ 74,700 1 $ 2,500 $ 2,984 $ 484 75,184 2 2,500 2,996 496 75,680 1 Record the bond issue assuming the face value of bonds payable is $80,000 (If no entry is required for a transaction event, select No journal entry required in the first account field )

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Question: Presented below is a partial amortization schedule for Discount Foods: Period Issue Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value $ 74,700

Presented below is a partial amortization schedule for Discount Foods:

Period Issue Date	Cash Paid	Interest Expense	Increase in Carrying Value	Carrying Value
				$ 74,700
1	$ 2,500	$ 2,984	$ 484	75,184
2	2,500	2,996	496	75,680

1. Record the bond issue assuming the face value of bonds payable is $80,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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