Oeceriber 31. The approprate menat interest rate is 11%, and the bonds are due June 30,2021. Hequired: 1 Prepere an inveament intered income and premium amortization schedule, using the a straght-dine mnthod bo emective intertat methad 2. Frepars journa entries to necord the December 31, 2018, and December 31,2020 , interest recelpts using both memods. Investment Premium Amortization Schedule General Journal ! Analysis ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 431 Interest income 141 Inventory 434 Gain on Sale of Investment 152 Prepaid Insurance 181 Equipment EXPENSES 189 Accumulated Depreciation 500 Cost of Goods Sold 191 Investment in Held-to-Maturity Debt Securities 511 Insurance Expense 512 Utilities Expense LIABILITIES 521 Salaries Expense 211 Accounts Payable 532 Bad Debt Expense 181 Equipment EXPENSES 189 Accumulated Depreciation 500 Cost of Goods Sold 191 Investment in Held-to-Maturity Debt Securities 511 Insurance Expense 512 Utilities Expense LIABILITIES 521 Salaries Expense 211 Accounts Payable 532 Bad Debt Expense 231 Salaries Payable 540 Interest Expense 250 Unearned Revenue 541 Depreciation Expense 261 Income Taxes Payable 559 Miscellaneous Expenses 599 Loss on Sale of Investment EQUITY 910 Income Tax Expense 311 Common Stock Prepare journal entries to record the December 31, 2018, and December 31, 2020, interest receipts using straight-line method Question not attempted. Prepsre journal entries to record the December 31,2018 , and December 31,2020 , interest receipts using effective interest method Additionsilinsth All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. Prepare an imvestment interest income and premium amortization schedule, using the straight-line method. General Joumal Analysis Question not attempted. MERCER CORPORATION Score: 0/100 Bond Investment Interest Income and Premium Amortization Schedule Effective Interest Method \begin{tabular}{|c|c} \hline 1 & Date \\ \hline 2 & 06/30/18 \\ \hline 3 & 12/31/18 \\ \hline 4 & 06/30/19 \\ \hline 5 & 12/31/19 \\ \hline \end{tabular} Chart of Accounts General Joumal Analysis