Supreme Autoparts Inc. issued $190,000 of 7%, 10-year bonds at a price of 82 on January 31, 2017. The market interest rate at the date of issuance was 9%, 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 Supreme'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.) Supreme Autoparts Amortization Table A C E Interest Payment Interest Expense Bond Discount Bond Discount Bond Semi-annual Amortization (3.5% of (4.5% of Preceding Bond Account Balance Carrying Amount Interest Date Maturity Value) Carrying Amount) (B-A) (Preceding D-C) ($190,000 - D) Jan 31, 2017 July 31, 2017 Jan 31, 2018 July 31, 2018 2. Record Supreme'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 2. Record Supreme'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 31 Jan 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 Journal Entry 2017 Accounts Debit Credit Jan 31 Accounts Payable Bonds Payable Cash nt and amortization of the bonds on July 31, 2017 Now, record the Discount on Bonds Payable Interest Expense Interest Payable 2017 Debit Credit Premium on Bonds Payable July 31