6 Assume Mr. Brand Bingo purchased the bond issued by LAMCOTrash, and asked you to help him with the recordkeeping of this bond. a What will be the journal entry in Mr. Bingo's book to record this bond? b C How much interest income Mr. Bingo will record on the 5th payment? How much interest income Mr. Bingo will record on the 9th payment? 5 LAMCOTrash is facing a liquidity shortage in its business and decided to raise some working capital by selling a bond. The face value of the bond is $40,000.00 with 2-year maturity period and has a stated 6% interest. The market interest rate for the similar bonds is 7.5% and interest will be calculated and paid monthly. a What is the total discount amount on this bond? b C What is the carrying value of the bond at the issuance of the bond and after 7th payment? Prepare a bond amortization schedule for this bond. 6 Assume Mr. Brand Bingo purchased the bond issued by LAMCOTrash, and asked you to help him with the recordkeeping of this bond. a b C What will be the journal entry in Mr. Bingo's book to record this bond? How much interest income Mr. Bingo will record on the 5th payment? How much interest income Mr. Bingo will record on the 9th payment