On January 1, 2015, Surreal Manufacturing issued 580 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 $563,907. 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.) Answer is not complete Changes During the Period Ending Bond Liability Balances Discount on Bonds Payable Carrying Value Period Discount Amortized Bonds Payable Interest Cash Paid Ended 01/01/15 12/31/15 12/31/16 12/31/17 Expense 17,400 17,400 17,400 22,556 22,763 22,974 5,156 5,363 5,574 580,000 0 580,000 2-5. Complete the required journal entries to record the bond issue, interest payments on December 31, 2015 and 2016, interest and face value payment on December 31, 2017, and bond retirement. Assume the bonds are retired on January 1, 2017, at a price of 101. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Answer is complete but not entirely correct. Date No General Journal Debit 563,907 16,093 Credit January 01, 2015 Cash Discount on Bonds Payable Bonds Payable 580,000 22,556 2December 31, 201 Interest Expense 17,400 Cash Discount on Bonds Payable 5,156 22,763 December 31, 201 Interest Expense 17,400 5,363 Cash Discount on Bonds Payable 4 December 31, 201| Interest Expense 22,974 Bonds Payable 580,000 Cash 597,400 Discount on Bonds Payable 5,574 5 January 01, 2017 Bonds Payable 580,000 5,800 Loss on Bond Retirement 580,226 Cash 5,574 Discount on Bonds Payable