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On June 1,2024, Sandhill Bottle Company sold $3,600,000 in long-term bonds for $3,157,580. The bonds...

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Accounting

On June 1,2024, Sandhill Bottle Company sold $3,600,000 in long-term bonds for $3,157,580. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%. The bonds pay interest annually on May 31 of each year. The bonds are to be accounted for under the effective-interest method.
(a)
Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31. Include only the first four years. (Round answers to 0 decimal places, e.g.25,000.)
\table[[Date,,Crecuit Cash,Debit Interest Expense,Credit Bond Discount,Carrying Amount],[61?24,,,,,$
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