it has to be in simplified effective-interest bond amortization method.

0.45 points On January 1, 2018, Surreal Manufacturing Issued 600 bonds, each with a face value of $1,000, a stated interest rate of 3 percent paid annually on December 31, and a maturity date of December 31, 2020. On the issue date, the market interest rate was 4 percent, so the total proceeds from the bond issue were $583,352. Surreal uses the simplified effective interest bond amortization method and adjusts for any rounding errors when recording Interest in the final year, Required: 1. Prepare a bond amortization schedule. 2.5. Prepare the journal entries to record the bond issue, the interest payments on December 31, 2018 and 2019, the interest and face value payment on December 31, 2020 and the bond retirement. Assume the bonds are retired on January 1, 2020, at a price of 101. Print Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 to 5 Prepare a bond amortization schedule. (Do not round intermediate calculations. Round your answers to the nearest whole dollar. Make sure that the Carrying value equals to face value of the bond in the last period. Interest expense in the last period should be calculated as Cash Interest (+1(-) Reduction in Bonds Payable, Net.) Period Beginning of Changes During the Period End of Year Year Bonds Interest Bonds Increase in Bonds Cash Paid Payable, Net Expense Payable, Net Payable, Net $ 583,352 $ 23,334 $ 10,000 $ 5,334 $ 588,686 588.688 23,547 18.000 5,547 594233 594 233 23,766 5.766 599,999 01/01/18-12/31/18 01/01/19-12/31/19 01/01/20-12/31/20 18.000 Req2 to 5 > Print View transaction list Journal entry worksheet Record the issuance of 600 bonds at face value of $1,000 each for $583,352 Note: Frer debitshare.ch