Question 1. Bonds - amortization schedule (9 marks) East & West, Inc., issued $2,000,000 par value, 10%, 5-year bonds on December 31, 2015. Interest is to be paid semiannually on June 30 and December 31. The bonds were sold to yield the buyers an 8% annual return. The company uses the effective interest method of amortization. Complete the amortization schedule below for the first two payment periods. Round all amounts to the nearest whole dollar. Journal entries are not required. ***You must show ALL your calculations in order to obtain all available marks. If no calculations, you get zero marks. *** Date (or) Interest Payment interest Interest Date Payment Expense 2015-12-31 Bond Amortization Amortized Amount Cost 2016-06-30 2016-12-31