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+ Mechanical Autoparts Inc. issued $100,000 of 9%, 10-year bonds at a price of 89 on January 31, 2020 The market interest rate at the
+ Mechanical Autoparts Inc. issued $100,000 of 9%, 10-year bonds at a price of 89 on January 31, 2020 The market interest rate at the date of issuance was 11%, and the standard bonds pay interest semi-annually 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments 2. Record Mechanical's issuance of the bonds on January 31, 2020, and paymond of the first semi-annual interest amount and amortization of the bonds on July 31, 2020 Explanations are not required 1. Prepare an effective interest amortizabon table for the bonds through the first three interest payments (Round your answers to the nearest whole dollar) Mechanical Autoparts Semi-annual Interest Date Jan 31, 2020 July 31, 2020 Amortization Table B interest Payment Interest Expense (5.6% of Bond Discount Bond Discount 14.5% of Maturity Preceding Bond Carrying Amortization (B Account Balance Al Value 8550 Amount) Preceding D-C) Bond Carrying Amount ($190,000-D) Jan 31, 2021 July 31, 2031 8550
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