Haley Industries issued $120,000 of 11%, 7-year bonds on December 31, 2013, with a $5,842 premium. Interest is paid annually on December 31. The market rate of interest is 10%.

1A. Prepare the amortization table using the effective interest rate method. If an amount box does not require an entry, leave it blank or enter "0". If required, round your answers to the nearest whole dollar.

1B. Record the journal entries for December 31, 2015, and 2016. If an amount box does not require an entry leave it blank. If required, round amounts to the nearest whole dollar.

Haley Industries Amortization Table Period Cash Payment (Credit) Interest Expense (Debit) Premium on Bonds Payable (Debit) Premium on Bonds Payable Balance Carrying Value At issue 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20