Sicily Corporation issued $300,000 in 11% bonds (payable on December 31, 2029) on January 1, 2020, for $285,000. Interest is paid on June 30 and December 31. The market rate of interest is 12%.

Bonds Issued at a Discount (Effective Interest) Sicily Corporation issued $300,000 in 1196 bonds payable on December 31, 2029 on January 1 2020 for $285 000 Interest is paid on 1 e 30 and De mber 31. The market rate of interest is 12% Required: Prepare the amortization table through December 31, 2021, using the effective Interest rate method. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "o". If required, round your answers to the nearest whole icily Corporation Amortization Table Period Cash Payment (Credit) Interest Expense (Debit) Discount on Bonds Payable (Credit) Discount on Bonds Payable Balance Carying Value At issue 15,000 285,000 3020 33,000 12/31/20 6/30/21