Cornerstone Exercise 9-30 (Algorithmic) Debt Issued at a Premium (Straight Line)

On January 1, 2020, Ironman Steel issued $300,000, 8-year bonds for $336,000. The stated rate of interest was 5% and interest is paid annually on December 31.

Required:

Prepare the amortization table for Ironman Steel's bonds. If required, round your answers to nearest whole value. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0".

Ironman Steel
Amortization Table
Period	Cash Payment (Credit)	Interest Expense (Debit)	Premium on Bonds Payable (Debit)	Premium on Bonds Payable Balance	Carrying Value
At issue	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4	$fill in the blank 5
12/31/20	fill in the blank 6	fill in the blank 7	fill in the blank 8	fill in the blank 9	fill in the blank 10
12/31/21	fill in the blank 11	fill in the blank 12	fill in the blank 13	fill in the blank 14	fill in the blank 15
12/31/22	fill in the blank 16	fill in the blank 17	fill in the blank 18	fill in the blank 19	fill in the blank 20
12/31/23	fill in the blank 21	fill in the blank 22	fill in the blank 23	fill in the blank 24	fill in the blank 25
12/31/24	fill in the blank 26	fill in the blank 27	fill in the blank 28	fill in the blank 29	fill in the blank 30
12/31/25	fill in the blank 31	fill in the blank 32	fill in the blank 33	fill in the blank 34	fill in the blank 35
12/31/26	fill in the blank 36	fill in the blank 37	fill in the blank 38	fill in the blank 39	fill in the blank 40
12/31/27	fill in the blank 41	fill in the blank 42	fill in the blank 43	fill in the blank 44