Sunland Corporation issued $3.36 million of 7-year, 3% bonds dated January 1, 2021, for $2,967,185. The market interest rate when the bonds were issued was 5%. Interest is payable semi-annually on January 1 and July 1. Sunland has a December 31 year end.

(a)

Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal places, e.g. 5,276.)

SUNLAND CORPORATION Bond Amortization Table Effective Interest MethodSemi-Annual Interest Payments 3% Bonds Issued at market rate of 5%
Date		Interest Payment		Interest Expense		Discount Amortization		Bond Amortized Cost
Jan. 1, 2021		$		$		$		$
July 1, 2021
Jan. 1, 2022
July 1, 2022