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Presented below is a partial amortization schedule for Premium Pizza. Required: 1. \& 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $70,000. 3. Interest expense decreases each period because the carrying value of the debt issued at a premium decreases over time. Complete this question by entering your answers in the tabs below. Record the bond issue and first interest payment assuming the face amount of bonds payable is $70,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)