On January 2, 2007, Yen Coorparation issued $4,000,000 of its 6%, 10- year bonds. The bounds pay interest annually on January 1. The current yield rate on such bonds is 8% Required: Prepare the amortization schedule. Prepare the journal entry to record the issuance of the bond. Prepare the journal entry to record the payment of interest for the third period. Present value of 1 at 8% for 10 periods 0.46319 Present value of an ordinary annuity at 8% for 10 periods 6.71008 Prevent value of 1 at 6% for 10 periods 0.55839 Present value of an ordinary annuity at 6% for 10 periods 7.36009 Present value of an ordinary annuity at 8% for 20 periods 9. 81815