Duncan General Stores Inc. is authorized to issue $540,000 of 8%, 10-year bonds. On December 31, 2020, when the market interest rate is 9%, the company issues $432,000 of the bonds and receives cash of $402,473. Duncan 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.) Duncan General Stores Inc. Amortization Table A B D E Interest Interest Expense Payment (4.5% of Discount Discount Account Bond Carrying Semi-Annual (4.0% of Preceding Bond Amortization Balance Amount Interest Date Face Value) Carrying Amount) (B-A) (D-C) ($432,000 - D) Dec. 31, 2020 Jan. 31, 2021 July 31, 2021 Jan. 31, 2022 July 31, 2022