Brief Exercise 9-52 Debt Issued at a Discount (Straight Line) On December 31, 2013, Mayor Company issued 40,000 5-year bonds with a S1,000 par value each. The market values the bonds at $30,000 less than the face value of the bonds. The stated rate of interest is 6%, and interest is paid annually on December 31. Required: Prepare the necessary journal entry on December 31, 2014, assuming the straight-line method is followed. Brief Exercise 9-53 Debt Issued at a Discount (Straight Line) Use the information from Brief Exercise 9-52. Required: Prepare the amortization table for Mayor Companys bonds