Crafty Corporation received $379,175 of cash upon issuance of 400, $1,000 par value bonds. Each bond has a stated rate of 7% 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 8%.

Required:

Prepare the amortization table using the effective interest rate method.

Note: If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0". Round Interest Expense to the nearest whole dollar. And, round final year amount to complete the amortization.

Crafty Corporation Amortization Table

Period	Cash Payment (Credit)	Interest Expense (Debit)	Discount on Bonds Payable (Debit)	Discount on Bonds Payable Balance	Carrying Value
At issue	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4	$fill in the blank 5
12/31/24	fill in the blank 6	fill in the blank 7	fill in the blank 8	fill in the blank 9	fill in the blank 10
12/31/25	fill in the blank 11	fill in the blank 12	fill in the blank 13	fill in the blank 14	fill in the blank 15
12/31/26	fill in the blank 16	fill in the blank 17	fill in the blank 18	fill in the blank 19	fill in the blank 20
12/31/27	fill in the blank 21	fill in the blank 22	fill in the blank 23	fill in the blank 24	fill in the blank 25
12/31/28	fill in the blank 26	fill in the blank 27	fill in the blank 28	fill in the blank 29	fill in the blank 30
12/31/29	fill in the blank 31	fill in the blank 32	fill in the blank 33	fill in the blank 34	fill in the blank 35
12/31/30	fill in the blank 36	fill in the blank 37	fill in the blank 38	fill in the blank 39	fill in the blank 40