Sweet Company sells 8% bonds having a maturity value of $1,550,000 for $1,432,484. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Schedule of Discount Amortization Effective-Interest Method Interest Discount Expense Amortized Year Interest Payable Carrying Amount of Bond Jan 1, 2020 $ Dec. 31 2020 Dec. 31, 2021 Dec 31. 2022 Dec 31 2023 Dec 31, 2024