Exercise 9-148 Record bonds issued at a discount and related annual interest (LO9-5) [The following information applies to the questions displayed below.) On January 1 Year 1, a company issues $440,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market Interest rate on the issue date is 8%, the bonds will issue at $410,474. od Exercise 9-14B Part 1 Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Date Carrying Value 01/01/Year 1 12/31/Year 1 12/31/Year 2 Cash Interest Increase in Pald Expenso Carrying Value s $ 15,400 $ 16,419 $ 1,019 15,400 16,460 1,0603 410,474 411,493 412,553 Exercise 9-148 Record bonds issued at a discount and related annual interest (L09-5) The following information applies to the questions displayed below) On January 1, Year 1, a company issues $440,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will issue at $410,474. Exercise 9-148 Part 2 2. Record the bond issue on January 1, Year 1, and the first two interest payments on December 31, Year 1, and December 31 Year 2. ( no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar) No Date January 01 Credit General Journal Cash Discount on Bonds Payable Bonds Payable ooo Debit 410,474 29.528 440,000 2 December 31 16.419 Interest Expense Discount on Bonds Payable Cash 1,019 15.400 3 December 31 16.450 Interest Expense Discount on Bonds Payable Cash OOO 1.000 15.400