Determine:

the Issue price of the bond

stated Rate of interest on the bonds

what is the market rate of interest on the bonds

face value of the bond

what amount of interest expense should be recorded on the income statement at 12/31/2021

Use the information and table below to answer the following questions. The One for All Corporation issued bonds and received cash in full for the issue price. Bonds were dated and issued on January 1, 2020. The stated interest rate was payable at the end of each year. The bonds mature at the end of two years. The following schedule has been completed: Date Cash Interest Interest Expense Amortization Book Value ??? 1/1/20 12/31/20 2,500 3,786 1,286 48,609 12/31/21 2,500 ??? ??? 50,000