Your company issued 1,000, 4.0% bonds (face value of each bond is $1,000) at 103.6694 on July 1st, 2

 
   

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Your company issued 1,000, 4.0% bonds (face value of each bond is $1,000) at 103.6694 on July 1st, 2019. The bonds are due on July 1, 2024, with interest payable each January 1 and July 1. The market rate at the time of the bond issuance was 3.2 Percent. Use the effective-interest method to calculate both the interest expense and the amortization of the bond discount when each interest payment is made.