Required information [The following information applies to the questions displayed below.] On January 1, 2022, Drennen, Incorporated, issued $5.1 million face amount of 11-year, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2029. Table 6-4, Table 6-5 Note: Use appropriate factor from the table provided. b-1. Assume instead that the proceeds were $5,036,000. Use the horizontal model to record the payment of semiannual interest and the related discount amortization on June 30, 2022, assuming that the discount of $64,000 is amortized on a straight-line basis. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Assets Balance Sheet Liabilities Stockholders' Equity Net Income Revenues

Required information The fottowing intormation applies to the questions displayed below. On January 1.2022, Drennen, Incorporated, issued $5.1 million face amount of 11 year, 14% stated rate bonds when market interest rates were 12\%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31 . Note: Use appropriate factoc from the table provided. 1. Assume instead that the proceeds were $5,036,000. Use the horizontal model to record the payment of semiannual interest and se felated discount amortization on June 30, 2022, assuming that the discount of $64,000 is amortized on a straight-ine basis. lotes Enter decresses with a minus slgn to Indieate a negative financlat statement effect. Table 6-4: Factors for Calculating the Present Value of \$1 Table 6-5: Factors for Calculating the Present Value of an Annuitv of $1