On January 1, 2015, Methodical Manufacturing issued 100 bonds, each with a face value of $1,000, a stated interest rate of 5 percent paid annually on December 31, and a maturity date of December 31, 2017. On the issue date, the market interest rate was 4.25 percent, so the total proceeds from the bond issue were $102,070. Methodical uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the final year. Required: 1. Prepare a bond amortization schedule Changes During the Period Ending Bond Liability Balances Premium Carrying Period Ended Cash Paid Premium Interest Amortized Expense onds on Bonds Payable Value Payable 01/01/15 12/31/15 12/31/16 12/31/17 5,000 5,000 5,000 5,000 4,310 5,000 $100,000 2,070$102,070 100,000 100,000 100,000 100,000 100,000 100,000 690