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Mo's Motor Corp. issued $ 310,000 of 6.5%, 5-year bonds on April 1, 2021. Interest is payable semi-annually on April 1 and October 1. On
Mo's Motor Corp. issued $ 310,000 of 6.5%, 5-year bonds on April 1, 2021. Interest is payable semi-annually on April 1 and October 1. On April 1, 2023, immediately after making and recording the semi-annual interest payment, Mo's redeemed the bonds. Below is a partial amortization schedule for the first few years of the bond issue. Mo's Motor Corp Bond Discount Amortization Schedule Interest Payment Interest Expense Bond Amortized Cost Interest Period Amortization 01-Apr. 2021 $ 297,270.18 01-Oct. 2021 $ 10,075.00 $ 11,147.63 $ 1,072.63 298,342.81 01-Apr. 2022 10,075.00 11,187.86 1,112.86 299,455.67 01-Oct. 2022 10,075.00 11,229.59 1,154.59 300,610.26 01-Apr. 2023 10,075.00 11,272.88 1.197.88 301,808.14 (a) Were the bonds issued at a discount or at a premium? The bonds were issued at a
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