On January 1, 2012, Trikel, Corp., issued $600,000 of 8.375%, five-year bonds payable when the market interest rate was 10%. Trikel pays interest annually at year-end. The issue price of the bonds was $563,040.
Requirement
1. Create a spreadsheet model to measure interest and bond discount amortization based on the followingtable:

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Bond 2. Discount Carrying Interest Interest Discount Balance Date Payment Expense Amortization Amount $563,040 1-1-12 ITIT 6 12-31-12 7 12-31-13 8. 12-31-14 9 12-31-15 10 12-31-16 600,000*8.375 +F5*.10 +C6-B6 600,000-F5 +F5+D6