On Jan 1. 2009, Clintwood corporation issued a $1,000, ten-year, 10% bond payable (interest payable each dec 31) For the 3 assumptions below complete the following schedule assuming the accounting year ends dec 31, and straight-line amortization is used:
Assumption 1 Sale @ 100
Assumption 2 Sale @ 96
Assumption 3 Sale 104
Transaction:
A. Cash received on issuance
B. Interest Expense for 2009
C. Net Bond carrying value on the Dec 31 2010 Bal sheet