Novak Company sells 9% bonds having a maturity value of $2,050,000 for $1,828,314. The bonds are dated January 1, 2017, and mature January 1, 2022. 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.)

Year	Cash paid	Interest expense	Discount Amortized	Carrying amount of bounds
Jan 1, 2017				1,828,314
Jan 1, 2018	184500
Jan 1, 2019	184500
Jan 1, 2020	184500
Jan 1, 2021	184500
Jan 1, 2022	184500			2,050,000