1. Problem 9-95B (Algorithmic) Preparing a Bond Amortization Table (Straight Line)

   Dalton Company issued 5-year, 7.5% bonds with a total face value of $900,000 on January 1, 2020, for $995,000. The bonds pay interest on June 30 and December 31 of each year.

   Required:

   1. Prepare an amortization table. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0".

   Dalton Company
   Amortization Table
   Period	Cash Payment (Credit)	Interest Expense (Debit)	Premium on Bonds Payable (Debit)	Premium on Bonds Payable Balance	Carrying Value
   At issue	$	$	$	$	$
   6/30/20
   12/31/20
   6/30/21
   12/31/21
   6/30/22
   12/31/22
   6/30/23
   12/31/23
   6/30/24
   12/31/24

   Feedback

   2. Prepare the entries to recognize the interest payments made on June 30, 2020, and December 31, 2020. If an amount box does not require an entry, leave it blank.

   2020 June 30	Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable
   	Bonds Payable Cash Discount on Bonds Payable Interest Payable Premium on Bonds Payable
   	Bonds Payable Cash Discount on Bonds Payable Interest Payable Premium on Bonds Payable
   	Record interest expense
   2020 Dec. 31	Bonds Payable Cash Discount on Bonds Payable Interest Expense Interest Payable
   	Bonds Payable Cash Discount on Bonds Payable Interest Payable Premium on Bonds Payable
   	Bonds Payable Cash Discount on Bonds Payable Interest Payable Premium on Bonds Payable
   	Record interest expense