S8-9 Standard Autoparts Inc. issued $100,000 of 7%, 10-year bonds at a price of 87 on January 31, 2017. The market interest rate at the date of issuance was 9%, and the standard bonds pay interest semi-annually. 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. Use Exhibit 8-30, page 393, as a guide, and round amounts to the nearest dollar. 2. Record Standard's issuance of the bonds on January 31, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. Explanations are not required.