Financial institutions such as insurance companies and pension plans hold large quantities of bond investments. Suppose Coast Capital Credit Union purchases $2,200,000 of 3.2 percent bonds of the Province of Saskatchewan at 104 on January 1, 2020. These bonds pay interest on January 1 and July 1 each year. They mature on January 1, 2030. Coast Capital plans to hold the bonds to maturity. 1. 2. Journalize Coast Capital's purchase of the bonds as a long-term investment on January 1, 2020. Disregard brokerage commissions. Journalize the receipt of cash interest and amortization of premium on July 1, 2020. Assume the straight-line method is appropriate for amortizing the premium as there is no material difference from the effective-interest method. Record the accrual of interest revenue and amortization of premium at October 31, 2020, the fiscal year-end. Calculate the book value of Coast Capital's investment in the Province of Saskatchewan bonds at October 31, 2020. 3