On January 1, 2017, Hooper Corporation Issued 3-Year Bonds with a $40,000

Essay

On January 1, 2017, Hooper Corporation issued 3-year bonds with a $40,000 face amount and a 6% annual coupon rate paid annually on December 31. The bonds were issued at $36,021 when the market rate of interest was 10%. Complete the amortization table for the bonds using the effective interest method. Round all amounts to the nearest dollar.
$$\begin{array} { | c | l | l | l | l | } \hline \text { Date } & \text { Cash } & \text { Interest Expense } & \text { Amortization } & \text { Carrying Value } \\\hline 1 / 1 / 17 & & & & \\\hline 12 / 31 / 17 & & & & \\\hline 12 / 31 / 1 \mathrm { a } & & & & \\\hline 12 / 31 / 19 & & & & \\\hline\end{array}$$