On December 31, 2020, Whitfield Corp. issued $ 400,000 10% bonds, due on December 31, 2025. Interest is to be paid semi-anmually on June 30 and December 31. The bonds were sold at a market value of $432,144 to yield 8% effective annual interest. Whitfield has a calendar year end. Required: 1. Complete the following amortization schedule for the dates indicated Show to the second decimal place (dollars and cents). Use the effective-interest method (4 marks) Cash interest paid Interest expense Premium Amortization Carrying amount of bonds $432,444 Dec 31,2020 June 30, 2021 Dec 31, 2021 2. Prepare the joumal entry for Whitfield at December 31, 2021, to record the payment of 6 months' interest (from June 30 to December 31) and related expense. (3 marks) Debit Credit 3. Assume instead that Whitfield is using the straight-line method to amortize the bond premium. What would be the carrying amount of the bonds at December 31, 2021