Question 1 Blue Spruce Corp. issued $ 355,000, 6%, 20-year bonds on January 1, 2017, for $ 285,291. This price resulted in an effective-interest rate of 8% on the bonds. Interest is payable annually on January 1. Blue Spruce uses the effective-interest method to amortize bond premium or discount Prepare the schedule using effective-interest method to amortize bond premium or discount of Blue Spruce Corp.. (Round answers to O decimal places, e.g. 5,250.) Interest Periods Interest to Be Paid Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value Issue date $ List of Accounts Prepare the journal entry to record the issuance of the bonds. (Round answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1,2017 List of Accounts