Amortizing a Discount Ortega Company issued five year 5% nds with a ace value of $50,000 on January 1 2017. Interest is paid annually on December 31 The market rate o interest on this date is 8%, and Ortega Company receives proceeds? $44,011 on the bond issuance Required: 1. Prepare a five-year table to amortize the discount using the effective interest methad. Round the last calculation as needed to bring bond to value. Enter all amounts as positive numbers. If required, round all calculations and final answers to the nearest dallar Note: Due to rounding you will have to adjust the interest expense DOWN to the nearest dollar 12/31/21 Ortega Company Discount Amortization Effective Interest Method of Amortization Cash Interest S% Interest S% Interest Expense 8% Discount Amortized rt Amortized Carryino Carrying Value Date 1/01/17 ? 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 Total Previous Next