Universal Autoparts Inc. issued $120,000 of 9%, 10-year bonds at a price of 85 on January 31, 2020. The market interest rate at the date of issuance was 11%, 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 Universal's issuance of the bonds on January 31, 2020, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2020. 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.) Universal Autoparts Amortization Table B D E Interest Payment Interest Expense (5.5% of Bond Discount Bond Discount Bond Carrying (4.5% of Maturity Preceding Bond Carrying Amortization (B Account Balance Amount Value) Amount) (Preceding D-C) ($120,000 -D) Semi-annual Interest Date - A) Jan. 31, 2020 July 31, 2020 Jan. 31, 2021 July 31, 2021 2. Record Universal's issuance of the bonds on January 31, 2020, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2020. (Record debits first, then credits. Explanations are not required.) Start by recording the issuance of bonds on January 31, 2020. Date Accounts Debit Credit Jan. 31, 2020 Now, record the payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2020. Accounts Debit Credit Date July 31, 2020