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On January 1, when the market interest rate was 9 percent

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On January 1, when the market interest rate was 9 percent. Seton Corporation completed a $150,000, 7 percent bond Issue for $130,746. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method. Required: 1. & 2. Prepare the required journal entries to record the bond issuance and the first interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.) View transaction list View journal entry worksheet X Debit Credit 1 os Record the issuance of bonds for $130,746 with a face value of $150,000. Record the interest payment on December 31 On January 1, when the market interest rate was 9 percent, Seton Corporation completed a $150,000, 7 percent bond . issue for $130,746. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method. 3. Prepare a bond discount amortization schedule for these bonds. (Do not round Intermediate calculations. Round your answers to the nearest dollar) Changes During the Period Discount Interest Cash Paid Amortized Expense Period Ended 13.500 Start Year 1 End Year 2 End Year 3 End Your 4 End Year 5 End Year 6 End Your End Year End Year End Year 10 End Ending Bond Liability Balances Discount on Bonds Payable Bonds Payable Carrying Value 150,000 150,000 150,000 150.000 150,000 150.000 150,000 150.000 150,000 150,000 150,000 150,000 150.000 150.000 150,000 150,000 150,000 150.000 150,000 150.000 150,000 150,000 5