Current Attempt in Progress On January 1, 2025, Flounder Company purchased $290,000, 6% bonds of Aguirre Co. for $266,477. The bonds were purchased to yield 8% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2030. Flounder Company uses the effective-interest method to amortize discount or premium. On January 1, 2027, Flounder Company sold the bonds for $267,985 after receiving interest to meet its liquidity needs.

On January 1, 2025, Flounder Company purchased $290,000,6% bonds of Aguirre Co. for $266,477. The bonds were purchased to yield 8% interest. Interest is payable semiannually on July 1 and January 1 . The bonds mature on January 1, 2030. Flounder Company uses the effective-interest method to amortize discount or premium. On January 1, 2027, Flounder Company sold the bonds for $267,985 after recelving interest to meet its liquidity needs