XE7-26 (similar to) Colwood General Stores Inc is authorized to issue $580,000 of 8 8%, 10-year bonds On December 31, 2020, when the market interest rates 98%, the company by the effective interest method The semi-annual interest dates are January 31 and July 31 Requirements 1. Prepare a bond amortization table for the first four somiannual interest periods 2. Record issuance of the bonds on December 31, 2020, and the semi-annual interest payments on January 31, 2021 and July 31, 2021 Requirement 1. Propare a bond amortization table for the first four semi-annual interest periods. (Round the amounts to the nearest dollar) D E A Interest Payment (4.4% of Face Value) Colwood General Stores Inc. Amortization Table B C Interest Expense (499501 Discount Preceding Bond Amortization Carrying Amount) (BA) Semi Annual Interest Date Discount Account Balance (DC) S 31.714 31587 Bond Carrying Amount (5464 000-D) 432 286 432 413 Dec 31, 2020 Jan 31, 2021 S 127 3.5305 3.4035 July 31, 2021 Enter any number in the edit fields and then click Check Answer Clear All os questionne market interest rate is 9 8%, the company issues $464,000 of the bonds and receives cash of $432,286. Colwood General amortizes bonds and July 31 the nearest dollar.) Check