The carring amount of the Bonds as of Oct 1, 2015 is $463,200 (Pls type it NO HANDWRITTEN)

Maggio Corporation issued $500,000, 10% bonds on October 1, 2015, due on October 1, 2020. Interest is to be paid semi-annually on April 1 and October 1. The bonds were sold to yield 12% effective annual interest. Maggio Corporation has a calendar year end. Instructions (a) Complete the following amortization schedule for the dates indicated. Round all answers to the nearest dollar. Use effective interest method. (YOU MUST SHOW YOUR CALCULATION) Credit Cash Debit Interest Credit Bond Carrying Amount Expense Discount of Bonds (Discount) Oct 1/15 Apr 1/160 Oct 1/16 (b) Prepared the adjusting entry required for these bonds at December 31, 2016 (c) Calculate the interest expense to be reported in the income statement for the year ended December 31, 2016