*Exercise 17-03 On January 1, 2020, Culver Company purchased 10% bonds having a maturity value of $340,000, for $367,149.34 The bonds provide the bondholders with a 8% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Culver Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan 1, 2020 invest in bond 3607149.34 cash 307 1419.84 Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective Interest Method Cash Interest Premium Carrying Amount Date Received Amortized of Bonds $ $ 1/1/20 Revenue $ 1/1/21 1/1/22 34000 1/1/23 3400 1/1/24 34000 1/1/25 34000 Prepare the journal entry to record the interest revenue and the amortization at December 31, 2020. (Round answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.)