On January 1, Year 1. Young Company issued bonds with a face value of $112,000, a stated rate of interest of 14 percent, and a 10-year term to maturity. Interest is payable in cash on December 31 of each year. The effective rate of interest was 13 percent at the time the bonds were issued. The bonds sold for $118,077. Young used the effective interest rate method to amortize the bond premium. Required a. Determine the amount of the premium on the day of issue. b. Determine the amount of interest expense recognized on December 31, Year 1. c. Determine the carrying value of the bond liability on December 31, Year 1. d. Provide the general journal entry necessary to record the December 31, Year 1, interest expense. Complete this question by entering your answers in the tabs below. Reg A Reg B to D Prepare an amortization table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Cash Payment Interest Expense Discount Amortization Carrying Value 117,747 (cv1] 15,680 15,350 (da) Date 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 15,680 15,350 0 RA Ponton On January 1, Year 1. Young Company issued bonds with a face value of $112,000, a stated rate of interest of 14 percent, and a 10-year term to maturity. Interest is payable in cash on December 31 of each year. The effective rate of interest was 13 percent at the time the bonds were issued. The bonds sold for $118,077. Young used the effective interest rate method to amortize the bond premium. Required a. Determine the amount of the premium on the day of issue. b. Determine the amount of interest expense recognized on December 31, Year 1. c. Determine the carrying value of the bond liability on December 31, Year 1. d. Provide the general Journal entry necessary to record the December 31, Year 1, interest expense. Complete this question by entering your answers in the tabs below. Reg A Req BLOD b. What Item(s) in the table would appear on the Year 4 balance sheet? c. What Item(s) in the table would appear on the Year 4 Income statement? d. What Item(s) in the table would appear on the Year 4 statement of cash flows? (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Show less b. Carrying value c. Interest experte d. Cash outflow for Interest & Rega Neto