Novak Company sells 8% bonds having a maturity value of $2,240,000 for $1,917,020. The bonds are dated January 1,2020 , and mature January 1,2025 . Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 0 decimal places, e.g. 38,548.)