K Castlegar General Stores Inc. is authorized to issue $530,000 of 7.6%, 10-year bonds. On December 31, 2020, when the market interest rate is 8.6%, the company issues $424,000 of the bonds and receives cash of $395,020. Castlegar General amortizes bonds by the effective interest method. The semi-annual interest dates are January 31 and July 31 Requirements 1. Prepare a bond amortization table for the first four semi-annual interest periods 2. Record issuance of the bonds on December 31, 2020, and the semi-annual interest payments on January 31, 2021, and July 31, 2021