Insurance companies and pension plans hold large quantities of bond investments. Mamaroneck Insurance Corp. purchased $610,000 of 8% bonds of Cold Harbour Inc. for 104.6 on March 1, 2017, when the effective interest rate was 7%. These bonds interest on March l and septembe1 eachy at The mature on March 20 At February 28, 2018, the market price of the bonds is 103.6. Requirements 1. Journalize Mamaroneck's purchase of the bonds as a long-term investment on March 1, 2017 (to be held to maturity), receipt of cash interest and amortization of the bond investment on September 1, 2017, and accrual of interest revenue and amortization at February 28, 2018. Use the effective-interest method for amortizing the bond investment. 2. Show all financial statement effects of this long-term bond investment on Mamaroneck Insurance Corp.'s balance sheet and income statement at February 28 2018