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PART D: Interpreting a Bond Interest Amortization Table

Devin Company computes the following bond interest amortization table for bonds issued on January 1, 2021. Use the information on this table to answer the questions below.

Interest Payment Date	Cash Payment Amount	Interest Expense	Decrease in Discount	Discount	Book Value
June 30, 2021	$360,000	$441,068	$81,068	$892,240	$11,107,760
Dec 31, 2021	$360,000	$444,310	$84,310	$807,929	$11,192,071
June 30, 2022	$360,000	$447,683	$87,683	$720,247	$11,279,753
Dec 31, 2022	$360,000	$451,190	$91,190	$629,056	$11,370,944
June 30, 2023	$360,000	$454,838	$94,838	$534,219	$11,465,781
Dec 31, 2023	$360,000	$458,631	$98,631	$435,587	$11,564,413
June 30, 2024	$360,000	$462,577	$102,577	$333,011	$11,666,989
Dec 31, 2024	$360,000	$466,680	$106,680	$226,331	$11,773,669
June 30, 2025	$360,000	$470,947	$110,947	$115,385	$11,884,615
Dec 31, 2025	$360,000	$475,385	$115,385	$0	$12,000,000

1. What journal entry will Devin make on June 30, 2022 to record the third interest payment?

When the bonds mature on December 31, 2025 how much principal will the company pay to investors?

$

Do the bonds pay interest annually or semiannually?

What is the bonds ANNUAL market rate of interest?

How much total CASH will the company pay for interest in 2024?

$

How much total INTEREST EXPENSE will the company report on its Income Statement in 2024?

$

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