Marshall’s Corporatio completed a $500,000, 7% bond issue on January 1, 2015. The bonds pay interest each December 31 and mature 10 years from…

Marshall’s Corporatio completed a $500,000, 7% bond issue on January 1, 2015. The bonds pay interest each December 31 and mature 10 years from January 1, 2015.

Required:

For each of the three independent cases that follow, provide the amounts to be recorded on January 1, 2015, financial statements immediately after the bonds were issued.

at $100at $98at $102

Bonds Payable—————————————————$$$

Unamatorized premium or discount————————

Carrying value—————————————————