Michael Jones Company sells 9% bonds having a maturity value of $1,500,000 for $1,337,790. The bonds are dated January 1,2025 , and mature January 1, 2030, Interest is payable annually on January 1. Click here to view factor tables. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 2 decimal places, eg. 38,548.25.)