QUESTION 15 18 points Save Answer Bond Transactions On January 1, 20Y1, Peterson Painting Co. issued a 3-year bond with an 6% stated rate. The bond pays interest annually on December 31. The effective rate of interest on the date of sale was 8%. Peterson's bond interest amortization schedule is as follows: Date Cash Payment Interest Expense Discount Amortization Discount Balance Amount Owed Issuance (1/1/1) $4.639 $85.361 End of Year 1 $5,400 $6.829 $1.429 $3,210 $86.790 End of Year 2 $5,400 $6.943 $1.543 $1,667 $88.333 End of Year 3 $5,400 $7.067 $1,667 $o $90.000 REQUIREMENT 1: Using the following t-accounts, prepare the entries necessary to record the company's 20Y1 bond transactions. ASSETS LIABILITIES EQUITY Bonds Payable REQUIREMENT 2: What is the carrying value of the bond at December 31, 20Y2