Exercise 17-3 (Part Level Submission) On January 1, 2017, Nash Company purchased 8% bonds having a maturity value of $440,000, for $477,069.47. The bonds provide the bondholders with a 6% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Nash Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. (a) Your answer is correct. 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 titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 1, 2017 Debt Investments 477069.47 Cash 477069.47 Click if you would like to Show Work for this question: Open Show Work (b) 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 Received Revenue Amortized of Bonds Date 1/1/17 $ $ 1/1/18 1/1/19 1/1/20 1/1/21 1/1/22 Click if you would like to Show Work for this question: Open Show Work