Saved Help Save & Exit Subn Check my work A partial amortization schedule for Sugar Ray's BBQ follows. (3) (5) (2) Cash Paid for Interest Interest Expense Increase in Carrying Value Period Issue date 1 2 Carrying Value $49,331 49, 414 49, 501 $1,890 1,890 $83 $1,973 1,977 87 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $54,000. (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 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $54,000. (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. Transaction General Journal Debit Credit 3. Interest expense increases each period because the carrying value of the debt issued at a discount increases over time. True False