Universal Autoparts Inc. issued $180,000 of 2%, 10-year bonds at a price of 82 on January 31, 2017. The market interest rate at the date of issuance was 4%, 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, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. 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 Interest Payment Interest Expense Bond Discount Bond Discount Bond Semi-annual Interest Date (1% of Maturity Value) (2% of Preceding Bond Carrying Amount) Amortization (B-A) Account Balance (Preceding D-C) Carrying Amount ($180,000 - D) Jan 31, 2017 July 31, 2017 Jan 31, 2018 July 31, 2018 Universal Autoparts Inc. issued $180,000 of 2%, 10-year bonds at a price of 82 on January 31, 2017. The market interest rate at the date of issuance was 4%, 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, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. Explanations are not required. Explanations are not required.) Start by recording the issuance of bonds on January 31, 2017 Journal Entry 2017 Accounts Debit Credit Jan 31 Now, record the payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. Journal Entry 2017 Accounts Debit Credit July 31 Choose from any list or enter any number in the input fields and then continue to the next question. 2. Record Universal's issuance of the bonds on January 31, 2017, and payment of the first semi-annual interest amount and amortization of the bonds on July 31, 2017. (Record debits first, then credits. Explanations are not required.) Start by recording the issuance of bonds on January 31, 2017. Journal Entry 2017 Accounts Debit Credit Jan 31 Now, record the Accounts Payable Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable Premium on Bonds Payable int and amortization of the bonds on July 31, 2017. 2017 Debit Credit July 31