Subject- accounting 9-23Problem 9-6A (Algo) Understand a bond amortization schedule (LO9-5)[The following information applies to the questions displayed below]On January 1, 2024, Paradise Hollow Resort issues $27 million of bonds that pay interest semiannually on June 30 andDecember 31. Portions of the bond amortization schedule appear below:(1)Date1/1/20246/30/202412/31/2024(2)Cash Paid forInterest Interest ExpenseFace amount$945,000945,000(3)$1,006,6121,009,077ĆIncrease inCarryingValue$61,61264,077(5)CarryingValue$25,165,30625,226,91825,290,995Problem 9-6A (Algo) Part 33. What is the face amount of the bonds? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as5,500,000).)

Bonds provide a way for issuers to borrow money from investors and for investors to earn a fixed…

9-23 Problem 9-6A (Algo) Understand a bond amortization schedule (LO9-5) [The following information applies to the questions displayed below.] (1) Date 1/1/2024 6/30/2024 12/31/2024 On January 1, 2024, Paradise Hollow Resort issues $27 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (2) Cash Paid for Interest Interest Expense Face amount $945,000 945,000 3 (3) $1,006,612 1,009,077 C (4) Increase in Carrying Value $61,612 64,077 (5) Carrying Value $25,165,306 25,226,918 25,290,995 Problem 9-6A (Algo) Part 3 3. What is the face amount of the bonds? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as 5,500,000))