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3. (12 points) An amortization table is presented below for a bond issued by Carter Clothiers, Inc. Use this table to answer the items asked
3. (12 points) An amortization table is presented below for a bond issued by Carter Clothiers, Inc. Use this table to answer the items asked below the table. Discount or Beginning Payment Interest Premium Ending Period Balance Amount Portion Amortization Balance 481,046 45,000 48,105 -3,105 484,151 484,151 45,000 48,415 -3,415 487,566 487,566 45,000 48,757 -3,757 491,322 491,322 45,000 49,132 -4,132 495,454 495,454 45,000 49,545 -4,545 500,000 a. What is the face value of the bond? b. Was the bond sold at a premium or discount? and how much? c. After the year 3 payment of interest, the bonds were retired early at 105. Make the journal entry for the early retirement
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