Presented below is a partial amortization schedule for Discount Foods: Interest Increase in Carrying Period Cash Paid Expense Carrying Value Value Issue Date $ 74,100 1 $ 2,700 $ 2,964 $ 264 74,364 2 2,700 2,975 275 74,639 Required: 1. & 2. Record the bond issue assuming the face value of bonds payable is $85,000 and first interest payment. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
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Home » Business » Presented below is a partial amortization schedule for Discount Foods: Interest Increase in Carrying Period Cash Paid Expense Carrying Value Value Issue Date $ 74,100 1 $ 2,700 $ 2,964 $ 264 74,364 2 2,700 2,975 275 74,639 Required: 1. & 2.