Bridgeport Co. sells $532,000 of 8% bonds on March 1, 2017. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2020. The bonds yield 12%.

Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to 0 decimal places, e.g. 38,548.)

Schedule of Bond Discount Amortization

Effective-Interest Method

Bonds Sold to Yield

Date Cash Paid Interest Expense Discount Amortized Carrying Amount of Bonds

3/1/17

9/1/17

3/1/18

9/1/18

3/1/19

9/1/19

3/1/20

9/1/20

Prepare all of the relevant journal entries from the time of sale until the date indicated. (Assume that no reversing entries were made.)