GIT Inc Issued 60,000 of 5%, 12 year bonds payable on March 31, 20x0. The market interest rate at the date of issuance was 8%, and the GIT bonds pay interest semi annually.

1. Prepare an effective interest ammortization table for the bonds through the first three interest payments.

2. Record GIT, Incs issuance of the bonds on March 31, 20x0, and payment of the first semi annual interest amount and amortization of the bond discount on Sept 30, 20x0.