1. Completing a Debt Amortization Table (Straight Line)

   Cagney Company sold $235,000 of bonds on January 1, 2024. A portion of the amortization table follows.

   Period	Cash Payment (Credit)	Interest Expense (Debit)	Discount on Bonds Payable (Credit)	Discount on Bonds Payable Balance	Carrying Value
   At issue				$8,000	$227,000
   06/30/24	$12,000	$12,800	$800	7,200	227,800
   12/31/24	12,000	12,800	800	6,400	228,600
   06/30/25	?	?	?	?	?

   Required:

   1. Determine the stated interest rate on these bonds. Round your answer to the nearest whole number. fill in the blank 1 %

   2. Calculate the interest expense and the discount amortization for the interest period ending on June 30, 2025.

   Interest expense	$fill in the blank 2
   Discount amortization	$fill in the blank 3

   3. Calculate the liability balance shown on a balance sheet after the interest payment is recorded on June 30, 2025.