Current Attempt in Progress Pharoah Company purchased $1700000 of 11% bonds of Scott Company on January 1,2021 , paying $1602375. The bonds mature January 1, 2031; interest is payable each July 1 and January 1 . The discount of $97625 provides an effective yield of 12%. Pharoah Company uses the effective-interest method and plans to hold these bonds to maturity. On July 1, 2021, Pharoah Company should increase its Debt Investments account for the Scott Company bonds by $5285. $4881. $2643. $9763