Read the requirements.

Requirement $1.$ Prepare an effective$-$interest amortization table for the bonds through the first three interest payments. $($Round your answers to the nearest whole dollar.$)$

Requirement $2.$ Record Mechanical's issuance of the bonds on January $31,20$X$1,$ and payment of the first semi$-$annual interest amount and amortization of the bonds on July $31,20$X$1.$

Start by recording the issuance of bonds on January $31,20$X$1.($Record debits first, then credits. Exclude explanations from journal entries.$)$

Requirement $3.$ How much cash did Mechanical Autoparts borrow on January $31,20$X$1?$ How much cash will Mechanical Autoparts pay back at maturity on January $31,20$X$6?$

Amount of cash Mechanical Autoparts borrowed on January $31,20$X$1$:

Amount of cash Mechanical Autoparts will pay back on January $31,20$X$6$:

Requirement $4.$ How much cash interest will Mechanical Autoparts pay each six months?

Amount of cash interest Mechanical Autoparts will pay each six months:

In this step, enter the interest expense amounts Mechanical Autoparts will report on July $31,201,$ and on January $31,202.$

Interest expense Mechanical Autoparts will report on July $31,20$X$1$:

Interest expense Mechanical Autoparts will report on January $31,20$X$2$:

Why does the amount of interest expense increase each period?

Interest expense increases because the