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

Face amount $$3,060,000$

Stated rate $6\%$

Number of years $10$

Market rate $7\%$

Required:

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

multiple choice

Discount

Premium

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

$3.$ 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.$)$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.$)$

Journal entry worksheet