Presented below is a partial amortization schedule for Premium Foods:
Period Issue Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value
$85,959
1 $2,900 $2,586 $314 85,645
2 2,900 2,578 322 85,323
(1) Record the bond issue assuming the face value of bonds payable is $76,000.
(2) Record the first interest payment.
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Home » Business » Presented below is a partial amortization schedule for Premium Foods: Period Issue Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value $85,959 1 $2,900 $2,586 $314 85,645 2 2,900 2,578 322 85,323 (1) Record the bond issue