(Learning Objective 2: Creating a bond amortization schedule (discount)) Tewksbury Co. issued €720,000 of 11%, 10-year bonds payable on January 1, 20X0, when the market interest rate was 12%. The company pays interest annually at year-end.

❙ Requirement 1. Create a spreadsheet model to prepare a schedule to amortize the bonds. Use the effectiveinterest method of amortization. (Round to the nearest dollar.)