Coney Island Entertainment issues $1,300,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.

Calculate the issue price of a bond and complete the first three rows of an amortization schedule when:

The market interest rate is 8% and the bonds issue at a discount.

Issue price Date Cash Paid Interest Expense Change in Carrying Value C Carrying Value 1/1/2021 6/30/2021 12/31/2021