On January 1, 2021. Carla Vista Satellites issued $1,260,000, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Carla Vista has a December 31 year end. A partial bond amortization schedule is presented below: Interest Payment Interest Expense Amortization Semi-Annual Interest Period Jan. 1, 2021 July 1, 2021 Jan. 1.2022 July 1, 2022 Jan 1, 2023 July 1, 2023 Jan 1.2024 $[1] 37,800 37,800 37,800 37.800 37,800 $12) 41,077 41,192 41,310 41,433 41,560 $3,166 3,277 (3) [4] 3,633 3,760 Bond Amortized Cost $1,170,462 1.173,628 1.176,905 1.180,297 15] 1.187.440 1,191,200 Were the bonds issued at a premium or a discount? What is the face value of the bonds? Face value of the bonds $ What is the contractual rate of interest? %6 Contractual rate of interest Fill in the missing amounts for items [1]through (5). Semi- Annual Interest Period Jan. 1. 2021 July 1, 2021 Interest Payment Interest Expense Amortization Bon $[1] $12) $3,166 Jan. 1, 2022 37.800 41,077 3,277 13] 41,192 37,800 (4) [5] 41.310 July 1. 2022 Jan. 1. 2023 July 1. 2023 37.800 3,633 41,433 37.800 3.760 41.560 37.800 Jan. 1. 2024 CE terest Payment Interest Expense Amortization Bond Amortized Cost $1,170,162 $[2] $3,166 1.173,628 37,800 41,077 3.277 1.176,905 37.800 41,192 [3] 1,180,297 37,800 41,310 [4] (5) 41,433 37,800 1187,440 3,633 1,191 200 3,760 41,560 37,800 What was t was the market interest rate when the bonds were issued? (Round answer to decimal places, ca 52x) Market interest rate % Record the issue of the bonds on January 1, 2021. (Credit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts) Debit Credit Account Titles and Explanation Date Jan. 1, 2021 (To record issuance of bonds.) Record the interest payment on July 1, 2021. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Date July 1, 2021 (To record interest payment.) Record the accrual of interest on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Date Dec. 31, 2021 (To accrue interest expense.) What amounts would be reported as current and non-current in the liabilities section of Carla Vista's December 31, 2021, balance sheet? CARLA VISTA SATELLITES Balance Sheet (Partial) $
