Debt Issued at a Discount (Straight Line)

On January 1, 2020, Drew Company issued $1,350,000, 5-year bonds for $1,269,000. The stated rate of interest was 9% and interest is paid annually on December 31.

Required:

Prepare the amortization table for Drew Company's bonds. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0".

Drew Company
Amortization Table
Period	Cash Payment (Credit)	Interest Expense (Debit)	Discount on Bonds Payable (Credit)	Discount on Bonds Payable Balance	Carrying Value
At issue
12/31/20
12/31/21
12/31/22
12/31/23
12/31/24