Net Work Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bondat January 1, 2020 Maturity amount and date: $285,000 due in 10 yeata (December 31, 2029) Interest: 7 percent per year payable cach December 31 Date issued: January 1, 2020 Required: 1. Provide the following amounts to be reported on the January 1, 2020, financial statements Immediately after the bonds were issued: (Amounts to be deducted should be indicated with minus sign.) int rences Case A Case B Case C (issued at 100) (issued at 99) (sued at 103) a. Bonds payable b. Unamortized premium (or discount) c. Carrying value 5 On January 1, 2020, Loop de Loop Raceway issued 610 bonds, each with a face value of $1,000, a stated interest rate of 6 percent pald annually on December 31, and a maturity date of December 31, 2022. On the issue date, the market interest rate was 7 percent, so the total proceeds from the bond issue were $599,992. Loop de Loop uses the straight-line bond amortization method. Required: 1. Prepare a bond amortization schedule ats ow Changes During the Period Cash Paid Period Ended Discount Amortized Interest Expense Ending Bond Liability Balances Bonds Discount on Payable Bands Carrying Value Payable Print 01/01/20 12/31/20 12/31/21 12/31/22 ference 2. Prepare the journal entry to record the bond issue. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list ook Journal entry worksheet int Record the issuance of bond. rences Note Enter debts before credits Date General Journal Debit Credit Jan 01.2020 Record entry Clear entry View general journal 3. Prepare the journal entries to record the Interest payments on December 31, 2020, and 2021. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction lit Journal entry worksheet 2 > Record the Interest payments on December 31, 2020 Note: Enter debits before rett Data General Journal Dec 31, 2020 Dobit Credit Record entry Clear entry View general journal 4. Prepare the journal entry to record the interest and face value payment on December 31, 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the interest and face value payment on December 31, 2022 Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2022 Record entry Clear entry View general Journal 5. Assume the bonds are retired on January 1, 2022, at a price of 98. Give the journal entries to record the bond retirement. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) View transaction list Journal entry worksheet 1 Record the bond retirement. Note: Enter debits before credits Date Jan 01, 2022 General Journal Debit Credit Record entry Clear entry View general journal