Presented below is a partial amortization schedule for Discount Pizza. (1) (3) (5) (2) Cash Paid for Interest Interest Expense Increase in Carrying Value Period Issue date Carrying Value $63,948 64,056 64,168 - $2,450 2,450 $2,558 2,562 $ 108 112 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $70,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.)