On December 31, 2011, The Rock Restaurant borrowed $254,500 by issuing three-year, 7 percent bonds with a face amount of $250,000. Interest is payable annually on December 31.

Required:
Prepare an amortization table using the following column headings:

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Cash Payment Interest Premium on Bonds Premium on Bonds Crrying Credit) Expense (Debit Payable [Debit) Payable Balance Value Period