Blossom Products Ltd. issued $3.6 million of 7%, 5-year bonds on January 1, 2021. The bonds were dated January 1 and pay interest annually. There is no collateral secured against the bonds and Blossom Products may buy back the bonds at any time. The market interest rate was 8% for these bonds. Blossom has a calendar year end.

Prepare an effective interest amortization table for these bonds. (Round answers to 0 decimal places, e.g. 5,275.)

BLOSSOM PRODUCTS LTD. Bond Discount Amortization Table Effective-Interest MethodAnnual Interest Payments 7% Bonds Issued at market rate of 8%
Date		Interest Payment		Interest Expense		Discount Amortization		Bond Amortized Cost
Jan. 1, 2021		$		$		$		$
Jan. 1, 2022
Jan. 1, 2023
Jan. 1, 2024
Jan. 1, 2025
Jan. 1, 2026