Universal Autoparts Inc. issued $170,000 of 2%, 10-year bonds at a price of 89 on January 31, 2020. The market interest rate at the date of issuance was 5%, 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 A B D E Bond Discount Bond Semi-annual Interest Payment (1% of Maturity Value) Interest Expense (2.5% of Preceding Bond Carrying Amount) Amortization (B-A) Bond Discount Account Balance (Preceding D-C) Carrying Amount ($170,000 -D) Interest Date 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. Journal Entry 2020 Accounts Debit Credit Jan. 31 Now, record the payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2020. Journal Entry Accounts Debit Credit 2020 July 31