Serial Bonds (SHOW ALL CALCULATIONS AND WORK)

Mitchell Company issued 6,000,000 worth of serial bonds on March 1, 2017. These 7% bonds were sold in a 7.1% market and pay interest each Feb 28th. The serial bonds have the following maturity schedule.

Maturity date	Amount maturing
February 28, 2019	0
February 28 2020	1,000,000
February 28, 2022	1,000,000
February 28, 2024	1,500,000
February 28, 2025	2,500,000
Total	6,000,000
Below prepare the cash flows relating to this bond
Maturity date	Amount maturing	Interest to be paid	Total Cash Paid Out
February 28, 2018
February 28, 2019
February 28 2020
February 28 2021
February 28, 2022
February 28, 2023
February 28, 2024
February 28, 2025
Assuming the bonds sold for $5,970,364.83 complete the following amortization table.
Date	Principal	Cash Interest	Interest Expense	Amortization	Carrying Value
3/1/2017