Ayayai Company sells 8% bonds having a maturity value of $2,650,000 for $2,356,174. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1.

Exercise 14-7 Ayayai Company sells 8% bonds having a maturity value of $2,650,000 for $2,356,174. The bonds are dated January 1, 2017, an Determine the effective-interest rate. (Round answer to o decimal places, e.g. 1896.) The effective-interest rate % Set up a schedule of interest expense and discount amortization under the effective-interest method. (Round intermediate calcu Schedule of Discount Amortization Effective-Interest Method Cash Interest Discount Carrying Paid Expense Amortized Amount of Bonds Jan. 1, 2017 $ Year $ $ Jan. 1. 2018 Jan. 1, 2019 Jan. 1, 2020 Jan. 1, 2021 Jan. 1, 2022 Click if von would like to Show Work for this onestion: Onen Show Work 2.32 Dichts Reserved Division of John wil