Bonds Issued at a Discount (Effective Interest) Crafty Corporation received $378,443 of cash upon issuance of 400, $1,000 par value bonds. Each bond has a stated rate of 6% and will mature on December 31, 2030, 7 years after the issuance of the bonds. Interest is paid annually on December 31. The market rate of interest is 7%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below. X Open spreadsheet Required: Prepare the amortization table using the effective interest rate method. Note: Round interest expense to a dollar and round final year interest expense amount to complete the amortization. Crafty Corporation Amortization Table Period At issue 12/31/24 12/31/25 12/31/26 12/31/27 12/31/28 12/31/29 12/31/30 Cash Payment Interest Expense (Credit) (Debit) 0 24,000 24,000 24,000 24,000 24,000 24,000 0 Discount on Bonds Payable (Credit) 0 Discount on Bonds Payable Balance Carrying Value

Bonds Issued at a Discount (Effective Interest) Crafy Corporation receved $378,443 of cash upon issuance of 400,51,000 par value bonds. Each bond has a stated rate of 6% and will mature on Decernber 31,2030,7 vears after the issuance of the bonds. Interest is paid annually on December 31 . The market rate of interest is 7%. This information has been collected in the Microsoft Excel Onine file Open the spresdahejt, perform the required analysis, and input your answer in the question below. Required: Prepure the smortizabon table using the effective interest rate method. Note: Round interest expense to a doliac and round final year interest expense ampunt to complete the amortization. Crafty Corporation issued bonds that will mature on December 31,2030,7 years after the issuance 2 of the bonds. Interest is paid annually on December 31 . The following information pertains to the bond issuance: 10 REQUIRED: 11 Prepare the amortization table through using the effective interest rate method. (Note: Rounding differences may occur in:spreadsheet soffware.) Using formulas and cell fferences from the problem data, perform the required analysis. Formulas ontered in the green celis show in the orange colls. Transfer amounts to CNOWV2 for grading. This spreadsheet has been formatted to round numbers to the nearest cent. For example, 17.651.5=26,475. The amount will display and hold 26.48 , not 26.475 . There is no need to use Excel's rounding function