value: 12.00 points On January 1, 2015, Loop Raceway issued 660 bonds, each with a face value of $1,000, a stated interest rate of 5% paid annually on December 31, and a maturity date of December 31, 2017. On the issue date, the market interest rate was 6 percent, so the total proceeds from the bond issue were $642,345. Loop uses the straight-line bond amortization method and adjusts for any rounding errors when recording interest in the final year. Required: 1. Prepare a bond amortization schedule. Changes During the Period Ending Bond Liability Balances Discount Carrying Period Cash Discount Interest Bonds Ended Paid Amortized Expense Payable Value Payable 01/01/15 0 0 12/31/15 12/31/16 This is a numeric cell, so please enter numbers only. 12/31/17