On January 1, when the market interest rate was 8 percent, Seton Corporation completed a $130,000, 7 percent bond issue for $121,278. The bonds pay interest each December 31 and mature in 10 years. Assume Seton Corporation uses the effective-interest method to amortize the bond discount.

Required: Complete the required journal entries to record the bond issuance and the first interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.)

1.&2 Record the issuance of bonds for $121,278 with a face value of $130,000. 2. Record the interest payment on December 31.

3.	Prepare a bond discount amortization schedule for these bonds. (Do not round intermediate calculations. Round your answers to the nearest dollar.) For ten years, includes interest expense, cash paid, discount amortized, bonds payable, discount on bond payable, and carrying value