Presented below is a partial amortization schedule for Premium Foods: Cash Paid Period Issue Date Interest Expense Decrease in Carrying Value Carrying Value $ 85,951 85,730 85,502 $2,800 2,800 $ 2,579 2,572 $221 228 2 Required: 1. & 2. Record the bond issue assuming the face value of bonds payable is $80,000 and first interest payment. (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 Record the bond issue. Note: Enter debits before credits. Event General Journal Debit Credit 1 85,951 Cash Premium on Bonds Payable Bonds Payable resented below is a partial Foods Cash Paid Interest Expense Decrease in Carrying Value Period Issue Date 1 Carrying Value $85,951 85,730 85,502 $2,800 2,800 $ 2,579 2,572 $221 228 Required: 1. & 2. Record the bond issue assuming the face value of bonds payable is $80,000 and first interest payment. (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