e. Store and office Supplies : a physical count was taken of the store supplies and $500 is remaining . A physical count was taken of the office supplies and $575 is remaining. Bond amortization : record the bond interest payable and amortization of the discount for the month . Use the effective interest method to amortize the premium . Round results to the nearest penny . Prepare an amortization schedule for the entire life of the bonds . A form is provided in the Ledgers and Schedules booklet