On January 1, 2021, Crane Satellites issued $1,060,000, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Crane has a December 31 year end. A partial bond amortization schedule is presented below: Interest Semi-Annual Interest Period Bond Interest Expense Payment Amortization Amortized Cost Jan. 1,2021 $984,674 July 1, 2021 $ [1] $[2] $2,664 987,338 Jan. 1.2022 31,800 34,557 2,757 990,095 July 1, 2022 31,800 34,653 [3] 992,948 Jan. 1, 2023 31,800 34,753 [4] [5] July 1, 2023 31,800 34,857 3,057 998,958 Jan. 1.2024 31.800 34,964 3,164 1,002,122 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? Contractual rate of interest % Fill in the missing amounts for items [1] through [5]. Semi- Annual Interest Period Interest Payment Interest Expense Amortization E Jan. 1, 2021 July 1, 2021 $ [1] $ [2] $2,664 Jan. 1. 2022 31,800 34,557 2,757 July 1, 2022 31,800 34,653 [3] Jan. 1. 2023 31,800 34,753 [4] [5] Jan. 1, 2023 31,800 34,753 [4] [5] July 1, 2023 31,800 34,857 3,057 Jan. 1, 2024 31,800 34,964 3,164 Expense Amortization Bond Amortized Cost $984,674 $2,664 987,338 34,557 2,757 990,095 34,653 [3] 992,948 34,753 [4] [5] 34,857 3,057 998,958 34,964 3,164 1,002,122 What was the market interest rate when the bonds were issued? (Round answer to 0 decimal places, e.g. 52%.) 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.) Date Account Titles and Explanation Debit Credit 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.) Date Account Titles and Explanation Debit Credit 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 O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2021 (To accrue interest expense.) What amounts would be reported as current and non-current in the liabilities section of Crane's December 31, 2021, balance sheet? CRANE SATELLITES Balance Sheet (Partial) $ $