Standard Autoparts Inc. issued $180,000 of 9%, 10-year bonds at a price of 86 on January 31, 2017. The market interest rate at the date of issuance was 11%, 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 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. 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 A B C D E Interest Payment Bond Discount Bond Discount Bond Semi-annual Interest Expense (5.5% of Preceding Bond Carrying Amount) Amortization (4.5% of Maturity Value) Account Balance Carrying Amount ($180,000 - D) Interest Date (B - A) (Preceding D-C) Jan 31, 2017 July 31, 2017 5400 Jan 31, 2018 5400 July 31, 2018 5400 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.) 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 2017 Accounts Debit Credit Jan 31 Now, record the payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. Journal Entry 2017 Accounts Debit Credit July 31