SweetFish Corp. issued bonds with a par value of $850,000 and a five-year life on May 1, 2020. The contract interest rate is 10.00%. The bonds pay interest on October 31 and April 30. They were issued at a price of $787,439 when the market interest rate was 12.00%. SweetFish Corp.s year-end is December 31.

a. Prepare an amortization table for these bonds that covers their entire life. Use the effective interest method of allocating interest. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.)

Period

Ending Cash

Interest

Paid Period Interest

Expense Discount Amortization Unamortized

Discount Carrying Value

May 1/20

Oct 31/20

Apr 30/21

Oct 31/21

Apr 30/22

Oct 31/22

Apr 30/23

Oct 31/23

Apr 30/24

Oct 31/24

Apr 30/25

Totals

b. Prepare the journal entries that the issuer would make to record the entries on October 31, 2020; December 31, 2020; and April 30, 2021. (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)

Record the payment of interest.

Record the accrual of interest.

Record the payment of interest.