Devon Harris Company sells 10% bonds having a maturity value of $2,000,000 for $1,855,816. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. 

Instructions 

Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to the nearest cent.)

 E14.7 (LO 1) (Amortization Schedule–Effective-Interest) Assume the same information as E14.6.