Preparing a Bond Amortization Table (Straight Line) Edmonton Alston Corporation issued 5-year, 9.5% bonds with a total face value of $700,000 on January 1, for $732,000. The bonds pay interest on June 30 and December 31 of each year Required: 1. Prepare an amortization table. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0" Edmonton Alston Corporation Amortization Table. Interest Cash Payment Expense Bonds Payable (Credit) (Debit) (Debit) Premium on Premium on Bonds Payable Balance Carrying Value Period At issue 6/30/20 12/31/20 6/30/21 12/31/21 6/30/22 12/31/22 6/30/23 12/31/23 000000 unprogress-false 6/30/23 12/31/23 6/30/24 12/31/24 Feedback Check My Work 1. An amortization table helps calculate the proper amortization of bond premium or discount. They are particularly helpful wh however, this problem amortizes the premium using the straight-line method. 2. Prepare the entries to recognize the interest payments made on June 30 and December 31 of Year 1. If an amount box does not re June 30 Interest Expense Premium on Bonds Payable Cash V Record interest expense Dec. 31 Interest Expense Premium on Bonds Payable Cash Record interest expense 000