Presented below is a partial amortization schedule for Discount Pizza. (3) Period Issue Date (2) Cash Paid for (3) Interest Interest 1 $1,550 1,550 Expense $1,645 1,648 (4) Increase in Carrying Value. (5) Carrying Value $54,834 $95 54,929 98 55,027 Required: 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $62,000. 3. Interest expense increases each period because the carrying value of the debt issued at a discount increases over time. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Record the bond issue and first interest payment assuming the face amount of bonds payable is $62,000. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the bond issue. Note: Enter debits before credits Transaction General Journal Debit Credit Presented below is a partial amortization schedule for Discount Pizza. (1) Period Issue Date 2 Required: (2) Cash Paid for (3) Interest Interest Expense (4) Increase in Carrying Value Carrying Value $54,834 $1,550 1,550 $1,645 1,648 595 54,929 98 55,027 1. & 2. Record the bond issue and first interest payment assuming the face amount of bonds payable is $62,000 3. Interest expense Increases each period because the carrying value of the debt issued at a discount increases over time. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Interest expense increases each period because the carrying value of the debt issued at a discount increases over time. Interest expense increases each period because the canying value of the debt issued at a discount increases over time