Question 1: Fill in the Bond Amortization Table and the highlighted cells using the information from E9.19 in the Data Tab. Show only positive numbers in the first table. Use Excel to do the calculations and don't round.
Period	Cash Payments	Interest Expense	Amortized Discount	Discount Balance	Face Value	Book Value
0					150,000,000
1
2
Proceeds at Issuance
Total Interest Expense for 1st Year
Balance Sheet Disclosure		At Issuance or Sale	End of Year 1
Bonds Payable (aka Face Value)
Discount (show as a negative number)
Bonds Payable, Net (aka Book Value)

E9.19 TA 2 Accounting for Bonds Sold at a Discount. The Biltmore National Bank raised capital through the sale of $150 million face value of eight percent coupon rate, ten-year bonds. The bonds paid interest semiannually and were sold at a time when equivalent risk-rated bonds carried a yield rate of ten percent, Calculate the proceeds that The Biltmore National Bank received from the sale of the eight percent bonds. How will the bonds be disclosed on Biltmore's balance sheet immediately following the sale? Calculate the interest expense on the bonds for the first year that the bonds are outstanding. Calculate the book value of the bonds at the end of the first year