Presented below is a partial amortization schedule for Discount Pizza (3) (5) (2) Cash Paid for Interest (4) Increase in Carrying value Interest Expense Period Issue date 1 Carrying Value $64,097 64,270 64,449 $2,070 2,070 $2,243 2,249 $173 179 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $69,000. (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 2 > Record the bond issue Noter Enter debits before credits Transaction Goneral Journal Debit Credit 3. Interest expense increases each period because the carrying value of the debt issued at a discount increases over time. True False