(Solved): X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each ye ...

X2 issued callable bonds on January 1, 2021. The bonds pay interest annually on December 31 each year. X2's accountant has projected the following amortization schedule from issuance until maturity: Interest Decrease in Carrying Date Cash Paid Expense Value 01/01/2021 12/31/2021 $7,000 $ 6,253 $ 747 12/31/2022 7,000 6,208 792 12/31/2023 7,000 6,160 840 12/31/2024 7,000 6,110 890 12/31/2025 7,000 6,057 943 X2 issued the bonds at: A premium. Face amount. A discount. Cannot be determined from the given information. Carrying Value $ 104,212 103,465 102,673 101,833 100,943 100,000