Presented below is a partial amortization schedule for Discount PIzza.

Required:

$1.\backslash$& $2.$ Record the bond issue and first Interest payment assuming the face amount of bonds payable is $\backslash (\backslash$$ $66,000\backslash ).$

$3.$ Interest expense Increases each perlod because the carrying value of the debt issued at a discount Increases over time.

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Req $1$ and $2$

Record the bond issue and first interest payment assuming the face amount of bonds payable is $\backslash (\backslash$$ $66,000\backslash ).($If no entry is re particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

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