E7-28 (similar to) Question Help Burnaby Candies issued $320,000 of 8%, five-year bonds on January 1, 2020, when the market interest rate was 12%. The company pays interest annually at year-end. The issue price of the bonds was $273,859 Requirement Create a spreadshoot model to prepare a schedule to amortize the bonds. Use the effective interest method of amortization. Round to the nearest dollar Requirement. Create a spreadsheet model to prepare a schedule to amortize the bonds. Use the effective-interest method of amortization (Round your final answer to the nearest dollar. For amounts with a zero balance, enter a 0 where appropriate A B D E F Bond Discount Discount Amortization Carrying Amount Date Balance Interest Paymen (8% of Maturity Value) Interest Expense (12% of Preceding Bond Carrying Amount) (C-B) (Preceding E-D) ($320,000 - E) 1-1-2020 Enter any number in the edit fields and then click Check Answer che de