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Use the following partial bond amortization schedule to answer the question. Given information: A corporation...

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Accounting

Use the following partial bond amortization schedule to answer the question. Given information: A corporation issues $100,000 of bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually on June 30 and December 31 each year. What is the carrying value of the bonds of December 31, 2021?

(1) (2) (3) (4) (5)
Date Cash Paid interest expense increase in Carrying Value CarryingValue
Face amount X stared Rate Carrying Value X market Rate (3)-(2) Prior Carrying value + (4)
1/1/2021 $93205
6/30/2021 $3500 3728 228 93433
12/31/2021 3500 3737 237 93670
. . . . .
. . . . 99057
6/30/2030 3500 3962 462 99519
12/31/2030 3500 3981 481 100000

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