0 Life Fitness Ltd is authorized to issue $7,000,000 of 11 percent 10 year bonds. On January 2, 2020, the contract date, when the market interest rate is 12 percent, the company issues 55,600,000 of the bonds and receive cash of 55.278,842. Interest is paid on June 30 and December 31 each year Required 1. Prepare an amortization table for the first four annual interest periods Life Fitness Lid amortizes bond discounts by the effective interest method 2. Record the issue of bonds on January 2, the first semi-annual interest payment on June 30, and the second payment on December 31 Show the lance sheet presentation of the bond on the date of issue and on December 31, 2021 Interest Unamortized Discount Discount Account Interest Expense (6.0% of Preceding Bond Carrying Amount) Payment (5.5% of Maturity Values) Semi-annual Interest Period Balance Amortization (B-A) Bond Carrying Amount (55,600,000 -D) (D-C) Jan. 2. 2020 Jun 30, 2020 385000 1 Dec 31, 2020 385000 Jun 30, 2021 385000 Dec 31, 2021 385000 Requirement 2. Record the issue of bonds on January 2, the first semi-annual interest payment on June 30, and the second payment on December 31 fields and then continue to the next