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Discount amortization under the straight-line method

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Martinez Company sells 9% bonds having a maturity value of $1,450,000 for $1,293,198. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1.

Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to 0 decimal places, e.g. 38,548.)

Schedule of Discount Amortization
Straight-Line Method

Year		 Cash
Paid		 Interest
Expense		 Discount
Amortized		 Carrying
Amount of Bonds
Jan. 1, 2017 $ $ $ $ 1450000
Jan. 1, 2018 130500   232540  
Jan. 1, 2019        
Jan. 1, 2020        
Jan. 1, 2021        
Jan. 1, 2022      

Reference no: EM131745632

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