Mays Inc. based $1,600,000 of 6 percent, 10 year bonds payable and received cash proceed of 51486.30 on March 31, 2000 The market interest rate at the date of banca was 7 percent, and the best part semiannually .. Old the bonds solata premam or a discount . Prepare an effective interest amoriration table for the bond discount through the first two interest payments c. Record Mays Inc.'sance of the bonds on March 31, 2020, and payment of the first manual trest amount and mortation of the bond discount on to 2020 d. If we were to amortize the bond discount using the waight-line method instead of the effective interest method, record the first interest amortization entry a. Did the bonds sell at a premium or a discount? The bonds sold at a because the stated interest rate of the bonds is the market interest