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On January 1, 2016, a company issues 3-year bonds with a face value of $70,000...

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Accounting

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On January 1, 2016, a company issues 3-year bonds with a face value of $70,000 and a stated interest rate of 7%. Because the market interest rate is 5%, the company receives $73,812 for the bonds. Required: Fill in the table assuming the company uses effective-interest bond amortization. (Round your answers to the nearest whole dollar.) Table Period Ended 01/01/2016 12/31/2016 12/31/2017 12/31/2018 Cash Paid Expense PremiumPayable Bonds Payable Interest Amortized Bonds Premium on Value 0

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