Question: Presented below is a partial amortization schedule for Premium Pizza. (1) (3) (5) (2) Cash Paid for Interest (4) Decrease in Carrying Value Interest Expense

Presented below is a partial amortization schedule for Premium Pizza. (1) (3) (5) (2) Cash Paid for Interest (4) Decrease in Carrying Value Interest Expense Period Issue date 1 2 Carrying Value $ 56,053 55,894 55,731 $1,560 1,560 $1,401 1,397 $ 159 163 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $52,000. (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

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