Paymeit on tral datc) Preparing an Amortization Schedule and Recording the Effects of Bonds On December 31, 201 5 , Kasznik, Inc., issued $720,000 of 1 1 % , 10-year bonds for $678,708, yield- ing an effective interest rate of 12%. Semiannual interest is payable on June 30 and December 31 each year. The firm uses the effective interest method to amortize the discount. REQUIRED Prepare an amortization schedule showing the necessary information for the first two interest periods. Round amounts to the nearest dollar. Prepare the journal entries for (1) the bond interest expense and discount expense and discount amortization at December 31, a. issuance on December 31,2015,(2) to record bond amortization at June 30, 2016, and (3) to record bond interest 2016. the journal entries from part b to their respective T-accounts. ecord each of the transactions from part b in the financial statement effects template. c. tho Fffeets of Bonds