On June 1, 2019, Nash's Company sold $2,400,000 in long-term bonds for $2,105,100. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%. The bonds pay interest annually on May 31 of each year. The bonds are to be accounted for under the effective-interest method.

Collapse question part

(a)

Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31. (Please round interest expense and bond discount columns to zero decimal places.)

Date Credit Cash

Debit

Interest Expense

Credit

Bond Discount

Carrying

Amount of Bonds

6/1/19 $

5/31/20 $

$

$

5/31/21

5/31/22

5/31/23