4. value: 5.00 points PA10-6 (Supplement 10A) Recording Bond Issue, Interest Payments (Straight-Line Amortization), and Ea On January 1, 2015, Loop Raceway issued 630 bonds, each with a face value of $1,000, a stated interest rate of 5% paid annually on December 31, and a maturity date of December 31, 2017. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $613,148. Loop uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the final year Required: 1. Prepare a bond amortization schedule. Ending Bond Liablity Balances Changes During the Period Discount on Bonds Payable Carrying Value Interest Expense Bonds Discount Amortized Cash Paid Period Ended Payable 01/01/15 12/31/15 12/31/16 12/31/17