Chilliwack General Stores Inc. is authorized to issue $590,000 of 8.2%, 10-year bonds On December 31, 2020, when the market interest rate is 9.2%, the company issues $472,000 of the bonds and receives cash of $439,739 Chilliwack General amortizes bonds by the effective-interest method The semi-annual interest dates are January 31 and July 31 Requirements 1. Prepare a bond amortization table for the first four semi-annual interest periods 2. Record issuance of the bonds on December 31, 2020, and the semi-annual interest payments on January 31, 2021, and July 31, 2021. Requirement 1. Prepare a bond amortization table for the first four semi-annual interest periods (Round the amounts to the nearest dollar.) Semi-Annual Interest Date Dec. 31, 2020 Jan. 31, 2021 July 31, 2021 Jan. 31, 2022 July 31, 2022 A Interest Payment (4.1% of Face Value) Chilliwack General Stores Inc. Amortization Table B Interest Expense (4.6% of Preceding Bond Carrying Amount) C Discount Amortization (B-A) D D Discount Account Balance (D-C) E Bond Carrying Amount ($472,000-D) Requirement 2. Record issuance of the bonds on December 31, 2020, and the semi-annual interest payments on January 31, 2021, and July 31, 2021 Dagombor 31 2020 (Record debits first, then credits. Explanations are not required. Round the amounts to the nearest dollar.)

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