Exercise 9-14B Record bonds issued at a discount and related annual interest (LO9-5) Skip to question [The following information applies to the questions displayed below.] On January 1, Year 1, a company issues $480,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $429,149. 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. cash paid interest expense increase in carrying value carrying value

0101/year 1

12/31 year 1

12/31 year 2