On January 1, 2015, Surreal Manufacturing issued 560 bonds, each with a face value of $1,000, a stated interest rate of 3 percent paid annually on December 31, and a maturity date of December 31, 2017. On the issue date, the market interest rate was 4 percent, so the total proceeds from the bond issue were $544,462. Surreal uses the effective-interest bond amortization method and adjusts for any rounding errors when recording interest in the final year. Required Prepare a bond amortization schedule. (Round your answers to the nearest whole dollar Make sure that the Carrying value equals face value of the bond in the last period. Interest expense in the last period will result in the amount in Discount Amortized equaling Discount on Bonds Payable.) Changes During the Period Ending Bond Liability Balances Discount on DiscountBonds Payable Bonds Payable Amortized Interest Expense Period Ended Cash Paid 15,538 $ 10,560 $560,000 560,000 560,000 560,000 544,462 549,440 560,000 560,000 01/01/15 12/31/15 12/31/16 12/31/17 4,978 5,178 (16,800) 21,778 21,978 16,800 16,800 16,800 Import a new list 1 Record the issuance of 560 bonds at face value of $1,000 each for $544,462. 2 Record the interest payment on December 31, 2015. 3Record the interest payment on December 31, 2016. 4 Record the interest and face value payment on December 5 Record the retirement of the bonds at a quoted price of 31, 2017. 103, assuming the bonds are retired on January 1, 2017 rather than holding them until maturity