On January 1, 2020, Sarasota Corporation issued $561,000 of 7% bonds that are due in 10 years. The bonds were issued for $488,026 and pay interest each July 1 and January 1. The company uses the effective interest method. Assume an effective rate of 9%.

Prepare the first three payments of an effective interest amortization table for the bonds. (Round answers to 2 decimal places, e.g. 52.75.) Schedule of Discount Amortization Effective Interest Method Cash Interest Discount Carrying Date Paid Expense Amortized Amount V Jan. 1 2020 the 488,026 July 1 2020 V X 19635 21961.17 2326.17 Jan. 1 2021 X. 19635 July 1 2021 19635