Entries for TS: Effective Interest Method: On July 1 of Year 1, West Company purchased for cash, 22,$10,000 bonds of North Corporation at a market rate of 64%. The bonds pay 5% interest, payable on a semiannual basis each july 1 and january 1 , and mature in three years on july 1 . The bonds are classified as trading securities. West Company's annual reporting period ends December 31 . Assume the effective interest method of amortization of any discounts. or premiums. Note: When answering the following questions, round answers to the nearest whole dollar. a. Prepare a bond amortization schedule for the life of the bonds using the effective interest method