General Autoparts Inc. issued $170,000 of 6%, 10-year bonds at a price of 90 on January 31, 2017 The market interest rate at the date of issuance was 8%, and the standard bonds pay interest semi-annually. 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. 2. Record General's issuance of the bonds on January 31, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. Explanations are not required 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. (Round your answers to the nearest whole dollar.) General Autoparts Amortization Table A. Bond Discount Bond Interest Payment (3% of Interest Expense (4% of Preceding Bond Carrying Amount) Bond Discount Amortization Account Balance Carrying Amount (B- A) Preceding D-C) ($170,000 D) Interest Date Maturity Value) Jan 31, 2017 July 31, 2017 Jan 31, 2018 July 31, 2018 2. Record General's issuance of the bonds on January 31, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. (Record debits first, then credits. Explanations are not required.) Start by recording the issuance of bonds on January 31, 2017 17000 153000 Journal Entry 2017 Accounts Debit Credit Jan 31 Now, record the payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017 Journal Entry 2017 Debit Credit July 31