Completing a Debt Amortization Table (Straight Line)}

Chekhov Company sold \(\$ 200,000\) of bonds on December 31, 2018. A portion of the amortization table appears below.

\section*{Required:}
1. Determine the stated interest rate on these bonds.
2. Calculate the interest expense and the discount amortization for the interest period ending June 30,2020 3. Calculate the liability balance shown on a statement of financial position after the interest payment is recorded on June 30, 2020.
\section*{Exercise

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Cash Payment Interest Discount on Bonds Expense Discount on Bonds Payable Balance Bond Payable Carrying Value Period (Credit) (Debit) Payable (Credit) (Debit) (Credit) At issue $8,000 $192,000 06/30/19 $12,000 $12,800 $800 7,200 192,800 12/31/19 12,000 12,800 800 6,400 193,600 06/30/20 ? ? ? ?