Please Complete entire Problem

Required: * Note: Due to rounding you will have to adjust the interest expense for 12/31/21 so the carrying value equals $50,000. 2. What is the total interest expense over the life of the bonds? cash interest payment? premium amortization? 3. Identify and analyze the effect of the payment of interest on December 31,2019 (the third year). How does this entry affect the accounting equation? Prepare the balance sheet presentation of the bonds on December 31, 2019 (the third year)