Standard Autoparts Inc. Issued $170,000 of 6%, 10-year bonds at a price of 87 on January 31, 2017. The market interest rate at the date of issuance was 8% and the standard bonds pay interest semi-annually.

Standard Autoparts Inc. Issued $170,000 of 6%, 10-year bonds at a price of 87 on January 31, 2017. The market interest rate at the date of issuance was 8%, and the standard bonds pay interest semi-annually. 1. Prepare an effective-interest amortization table for the bonds through the first three interest payments. 2. Record Standards 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. 1. Prepare an effective interest amortization table for the bonds through the first three interest payments (Round your answers to the nearest whole dollar.) Standard Autoparts Amortization Table Interest Payment (3% of Maturity Value) Interest Expense (4% of Preceding Bond Carrying Amount) Bond Discount Amortization (B-A) Bond Discount Account Balance Preceding D-C) Bond Carrying Amount $170,000 -D) Serni-annual Interest Date Jan 31, 2017 July 31, 2017 Jan 31, 2018 July 31, 2018 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. (Record debits first, then credits. Explanations are not required.) Start by recording the issuance of bonds on January 31, 2017. Journal Entry Accounts Debit Credit 2017 Jan 31 Neww, record the payment of the first semi-annual interest amount and amortization of the bands on July 31, 2017 Journal Entry 2017 Accounts Debit Credit July 31 Choose from any list or enter any number in the input fields and then continue to the next question. 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. (Record debits first, then credits. Explanations are not required.) Start by recording the issuance of bonds on January 31, 2017. Journal Entry Accounts 2017 Debit Credit Jan 31 Now, record the Accounts Payable Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable Premium on Bonds Payable int and amortization of the bonds on July 31, 2017. 2017 Debit Credit July 31 Choose from any list or enter any number in the input fields and then continue to the next