A partial bond discount amortization schedule for Chiasson Corp. follows:

(a) Fill in the missing amounts for items[1] to [4].
(b) What is the face value of the bonds?
(c) What is the coupon interest rate on the bonds? The market interest rate?
(d) Explain why interest expense is greater than interest paid.
(e) Prepare the journal entry to record the payments of interest on June 30 and December 31, assuming Chiasson's year end is December 31.

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Interest Interest Discount Unamortized Bond Carrying Payment Semi-Annual Interest Period Issue date 1 (June 30) 2 (Dec. 31) Expense Discount $62,311 Amortization Amount $45,000 45,000 1 1,884 12] 939,573 $46,979 58,448