Vaughn Company sells9% bonds having a maturity value of $1,860,000for $1,658,860. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1.

Set up a schedule of interest expense and discount amortization under the straight-line method.(Round answers to 0 decimal places, e.g. 38,548.)

Schedule of Discount Amortization

Straight-Line Method

Year

Cash

Paid

Interest

Expense

Discount

Amortized

Carrying

Amount of Bonds

Jan. 1, 2020$

$

$

$

Jan. 1, 2021

Jan. 1, 2022

Jan. 1, 2023

Jan. 1, 2024

Jan. 1, 2025

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