Question: Presented below is a partial amortization schedule for Mill Street Investors: Period Issue Date Cash Paid $4,100 4,100 Interest Expense $3,436 3,410 Increase in

Presented below is a partial amortization schedule for Mill Street Investors: Period Issue Date Cash Paid $4,100 4,100 Interest Expense $3,436 3,410 Increase in Carrying Value $664 690 Carrying Value $85,910 85,246 84,556 Required: 1. & 2. Record the bond issue and first interest payment. Assume the face amount of bonds payable is $78,000. (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 < 1 2 Record the bond issue. Note: Enter debits before credits. Event 1 General Journal Debit Credit View general journal Record entry Clear entry >

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