Long-Term Liabilities - Bonds On January 1, 2022, Liberty Bank issues $500,000, 6%, five-year bonds, with interest payable on July 1 and January 1. Since the market interest rate is 5%, the bonds sell for $521,880. Requirement 1: This bond will sell at a Requirement 2: For the issue date and first semi-annual period, complete the table below and show your calculations in the workspace provided. Interest Interest Expense Premium Unamortized Bond Carrying Period to be paid to be recorded Amortization Discount/Premium Value $ $ 0 1 $ $ $ $