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Mickey Corporation purchased, as a long-term investment, $30,000, 8%, 22-year bonds of Minnie Corporation paying $38,800 cash on December 31, 2020 The bonds pay interest

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Mickey Corporation purchased, as a long-term investment, $30,000, 8%, 22-year bonds of Minnie Corporation paying $38,800 cash on December 31, 2020 The bonds pay interest semi-annually each June 30 and December 31. On December 31, 2021, the fair market value of the bonds is $39,200. Mickey uses the straight-line method of amortization REQUIRED: A Indicate the following amounts: Face Value Stated Rate Annual Stated Interest Semi-Annual Stated Interest Price of the Bonds Premium or Discount (circle one) Give the general journal entries for December 31, 2020, June 30, 2021 and December 31, 2021. GENERAL JOURNAL Account Titles DR B Date CR Indicate the financial statement presentation of the bond investment accounts on December 31, 2021 Income Statement: Balance Sher: Interest Revenue Long-Term Investment in Bonds D. What is the book for carrying value of the bond on December 31, 2028

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