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On January 1, Year 1, Parker Company issued bonds with a face value of $51,000, a stated rate of interest of 9 percent, and a

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On January 1, Year 1, Parker Company issued bonds with a face value of $51,000, a stated rate of interest of 9 percent, and a five-year term to maturity. Interest is payable in cash on December 31 of each year. The effective rate of interest was 11 percent at the time the bonds were issued. The bonds sold for $47,230. Parker used the effective interest rate method to amortize the bond discount. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Required a. Prepare an amortization table Date Value 47,230 47,836 January 1, Year 1 December 31, Year 1 December 31, Year 2 December 31, Year 3 December 31, Year 4 December 31, Year 5 Totals 4,590 5,195 605 4.590 5,195 605 b. What is the carrying value that would appear on the Year 4 balance sheet? c. What is the interest expense that would appear on the Year 4 income statement? d. What is the amount of cash outflow for interest that would appear in the operating activities section of the Year 4 statement of cash flows? b Carrying value C. Interest expense d Cash outflow for interest

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