Revise your worksheet assumptions as indicated below and then answer the questions that folllow:

Face amount	$3,035,000
Stated rate	9%
Number of years	10
Market rate	10%

Required: 1. Was the bond issued at a discount or a premium?

• Discount

• Premium

Complete the first four rows of the amortization schedule. (Round your answers to 2 decimal places.)

Date	Cash Paid	Interest Expense	Change in Carrying Value	Carrying Value
June 30, 2021
December 31, 2021
June 30, 2022
December 31, 2022

3. Prepare the journal entries to record the issuance of the bond and the first two interest payments. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to 2 decimal places.)

• Record the issuance of the 9% note for $3,035,000 on Jan. 01, 2021.

Date	General Journal	Debit	Credit
January 01, 2021	Cash
	Discount on Bonds Payable
	Bonds Payable

• Record the annual interest paid on the 9% note for the year ending on Jun. 30, 2021.

Date	General Journal	Debit	Credit
June 30, 2021	Interest Expense
	Discount on Bonds Payable
	Cash

• Record the annual interest paid on the 9% note for the year ending on Dec. 30, 2021

Date	General Journal	Debit	Credit
December 31, 2021	Interest Expense
	Discount on Bonds Payable
	Cash