John Smith Inc. issued $450,000 of 11 percent, 10-year bonds payable at a price of 113.01 on May 31, 2020. The market interest rate at the date of issuance was 9 percent, and the John Smith Inc. bonds pay interest semi-annually. The effective-interest amortization table for the bond premium is presented here for the first two interest periods.

a. Continue the effective-interest amortization table for the bond premium for the next two interest payments.

b. Record issuance of the bonds on May 31, 2020, and payment of the third semi-annual interest amount and amortization of the bond premium on November 30, 2021?

i Amortization table x A B D E Interest Expense End of Interest Payment (5.5% of Maturity Value) Semi-annual (4.5% of Preceding Bond Carrying Amount) Premium Amortization Interest Period (A-B) Unamortized Premium Account Bond Balance (Previous D Carrying Amount - Current C) ($450,000 + D) 58,545 $ 508,545 56,680 506,680 54,731 504,731 May 31, 2020 Nov. 30, 2020 May 31, 2021 $ 1,865 24,750 $ 24,750 22,885 $ 22,801 1,949 Print Done