On January 1, 2021, Sunland Satellites issued $1,230,000, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1, and Sunland has a December 31 year end. A partial bond amortization schedule is presented below: Semi-Annual Interest Period Interest Payment Interest Expense Bond Amortized Cost Amortization Jan. 1, 2021 $1,142,594 July 1, 2021 $ [1] $ [2] $3,091 1,145,685 Jan. 1, 2022 36,900 40,099 3,199 1,148,884 July 1, 2022 36,900 40,211 [3] 1,152,195 Jan. 1, 2023 36,900 40,327 [4] [5] July 1, 2023 36,900 40,447 3,547 1,159,169 Jan. 1,2024 36,900 40,571 3,671 1,162,840 Were the bonds issued at a premium or a discount? Question Part Score 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 Jan. 1, 2021 July 1, 2021 $[1] $ [2] $3,091 Jan. 1, 2022 36,900 40,099 3,199 July 1, 2022 36,900 40,211 [3] Jan. 1, 2023 36,900 40,327 [4] [5] July 1, 2023 36,900 40,447 3,547 Jan. 1, 2024 36,900 40,571 3,671 Fill in the missing amounts for items [1] through [5]. erest Payment Interest Expense Amortization Bond Amortized Cost $1,142,594 $[2] $3,091 1,145,685 36,900 40,099 3,199 1,148,884 36,900 40,211 [3] 1,152,195 36,900 40,327 [4] [5] ] 36,900 40,447 3,547 1,159,169 36,900 40,571 3,671 1,162,840 What was the market interest rate when the bonds were issued? (Round answer to O 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 O for the amounts.) Debit Credit Date Account Titles and Explanation 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 Sunland's December 31, 2021, balance sheet? SUNLAND SATELLITES Balance Sheet (Partial) $ $