Bonita Company sells 10% bonds having a maturity value of $1,600,000 for $1,484,653. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method.

Bonita Company sells 10% bonds having a maturity value of $1,600,000 for $1,484,653. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 0 decimal places, e.g. 38,548.) Schedule of Discount Amortization Straight-Line Method Cash Paid Interest Expense Discount Amortized Carrying Amount of Bonds Jan. 1, 2017 1,484,653 Jan. 1, 2018 183069 23069 Jan. 1, 2019 183069 23069 LILLLLLLLLLLLL Jan. 1, 2020 183069 23069 Jan. 1, 2021 183069 23069 Jan. 1, 2022 183069 23069 1,600,000