Preparing a Bond Amortization Table (Straight Line) Sonoma Company, issued 5-year, 9.2% bonds with a total face value of $500,000 on January 1, for $456,000. 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". Period At issue Sonoma Company Amortization Table Cash Interest Discount on Payment Expense Bonds Payable (Credit) (Debit) (Credit) Discount on Bonds Payable Carrying Balance Value 6/30/20 12/31/20 6/30/21 12/31/21 6/30/22 12/31/22 6/30/23 12/31/23 6/30/24 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 ar however, this problem amortizes the discount using the straight-line method. 2. Prepare the entries to recognize the bond issuance and the interest payments made on June 30 and Decem blank. June 30 Interest Expense Discount on Bonds Payable Cash (Record interest expense) Dec. 31 Interest Expense Discount on Bonds Payable Cash (Record interest expense) 000