copy O Accou ACCOUNTING Problem PA10-7 1 (of 0 15.00 points On January 1,2015, Surreal Manufacturing issued 520 bonds, each with a face value of $1,000, a stated interest rate of 3 percent paid annually on December 31, and a maturity date of December 31, 2017, On the issue date, the market interest rate was 4 percent, so the total proceeds from the bond issue were $505,572. Surreal uses the effective-interest bond amortization method and adjusts for any rounding errons when recording interest in the final year Required: Prepare a bond amortization schedule. (Round your answers to the nearest whole dollar Make sure that the Carrying value equals face value of the bond in the last period. Interest expense in the last period will result in the amount in Discount Amortized equaling Discount on Bonds Payable.) Changes During the Period Ending Bond Liability Balances Discount Bonds Payable Bonds Payable Discount on Carrying Value Period Interest Ex Cash Paid Amortiz $ 520,000 $ 01/01/15 12/31/15 12/31/16 14,428 S 505,572 510,195 515,003 520,000 4,623 9,805 20,223 20,408 20,600 520,000 520,000 15,600 4,997 [12/31/17 1 156 01 5,000 520 000 Complete the required journal entries to record the bond issue, interest payments on December 31, 2015 and 2016, interest and face value payment on December 31, 2017, and bond retirement. Assume the bonds are retired on January 1, 2017, at a price of 101. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to thr 2-5