Assume that on September 30, 2016. Rentex, Inc., purchased 5.5% bonds of Hammond Corporation at 96 as along-term, held-to-maturity investment. The maturity value of the bondswill be $24,000 on September 30.2021. The bonds pay interest on March 31 and September 30. uirements 1. What method should Rentext use to account for its investment in the Hammond Corp. bonds? 2. Using the straight-line method of amortizing the discount on bonds, journalize all of Rentex's transactions on the bonds for 2016. 3. Show how Rentex would report everything related to the bond investment on its balance sheet at December 31, 2016