Jebt payment and preparing a discount amortization schedule using a spreadsheet Interest expense, Dec. 31, 2020 $377,255 E15-10 On January 2, 2020, Omni Industries Inc. issued $4,000,000 of 8.5 percent, 5-year bonds when the market interest rate was 10 percent. Omni Industries pays interest annually on December 31. The issue price of the bonds was $3,772,553. Required Create a spreadsheet (either on paper or using software) to complete a schedule to amortize the discount on these bonds. Use the effective-interest method of amortization. Round to the nearest dollar, and format your answer as follows: B C D E F 1 8.5% Unamortized Bond 10% 2 Interest 3 Date Payment Interest Expense Discount Amortization Discount Carrying Balance Amount 4 5 Jan. 2, 2020 $227,447 $3,772,553 6 Dec. 31, 2020 $ $ $ $ 7 Dec. 31, 2021 8 00 Dec. 31, 2022 9 Dec. 31, 2023 10 Dec. 31, 2024 =4,000,000 0.085 =F5*0.10 =C6-B6 -E5-D6 =F5+D6