Styles Exercise #1 : Sportswear Corporation issued S,000,000 of 8% bonds on January 1, 2017, due on January 1, 2022. The interest is to be paid twice a year on July 1 and January 1. The bonds were sold for $5536,676 to yield 10% effective annual interest Sportswear Corporation closes its books annually on December 31. Spotwar uses the straight-ine method of amortization. Instructions (a) Complete the following amortization schedule for the dates indicated. (Round all answers to the nearest dollar.) Use the straight-line method Debit Credit Carrying Amount of Bonds $5,536,676 Credit Cash Interest Expense Bond Discount January 1, 2017 July 1, 2017 January 2018 In the space provided on the next few pages, prepare all necessary journal entries for the years 2017 and 2018 (b) Exercise #2: Sportswear Corporation issued S6000000 of 8% bonds on October 1, 2017, due on October 1, 2022. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest Sportswear Corporation closes its books annually on December 31. Sportswear uses the effective-interest method. Instructions (a) Complete the following amortization schedule for the dates indicated. (Round all answers to the nearest dollar.) Use the effective-interest methood Carrying Amount Credit Bond Discount Credit Cash Interest Expense October 1, 2017 April 1, 2018 October 1, 2018 $5,536,676 (b) in the space provided on the next few pages, prepare all necessary journal entries for the years 2017 and 2018