On January 1 of this year, Barnett Corporation sold bonds with a face value of $500,500 and a coupon rate of 6 percent. The bonds mature in 12 years and pay interest annually on December 31. Barnett uses the effective-interest amortization method. Ignore any tax effects. Each case is independent of the other cases. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answers to whole dollars.)

Required:

1. Complete the following table. The interest rates provided are the annual market rate of interest on the date the bonds were issued.

Please help! I am confused

thank you so so much in advance

X Answer is not complete. Case A (6%) $ 500,500 Case B (7%) Case C (5%) a. Cash received at issuance b. Interest expense recorded in Year 1 $ 30,030 32,252 $ 27,242 C. $ 30,030 $ 30,030 $ 30,030 Cash paid for interest in Year 1 Cash paid at maturity for bond principal d. $ 500,500