Effective Interest Amortization On December 31, 2015, Echo, Inc., issued $720,000 of 11 percent, five-year bonds for $693,504, yielding an effective interest rate of 12 percent. Semiannual interest is payable on June 30 and December 31 each year. The firm uses the effective interest method to amortize the discount. Required a. Prepare an amortization schedule showing the necessary information for the first two interest periods. Round amounts to the nearest dollar. b. Prepare the journal entry for the bond issuance on December 31 C. Prepare the journal entry to record bond interest expense and discount amortization at June 30 of the following year. d. Prepare the journal entry to record bond interest expense and discount amortization at December 31 of the following year. Book Value of Bonds Balance Interest Periodid Amortization Unamortized End of Interest Interest 0 Expense Year Period Paid Discount Period ssue 2 General Journal Description DebitCredit Date b. Dec.31 Cash issued $720,000 face value, 11%, 5-year bonds for $678,852 C. Jun.30 Cash To record semiannual interest payment and discount amortization d. Dec.31 Cash To record semiannual interest payment and discount amortization