On 1 January 20X2, Investor Company purchased $500,000 of Operating Corp. 2% bonds, classified as an AC investment. The bonds pay semi-annual interest each 30 June and 31 December. The market interest rate was 3% on the date of purchase. The bonds mature on 30 December 20X11. (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the price paid by Investor. (Round time value factor to 5 decimal places. Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Price paid 2. Construct a table that shows interest revenue reported by Investor, and the carrying value of the investment, for the first two interest periods. Use the effective-interest method. (Round your answers to the nearest whole dollar amount.) Cash Payment Period 1.5% Interest Revenue Bond Carrying Value Discount Amortization 0 1 2 3. Prepare the entry for the first interest payment based on your calculations in requirement 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet 1 Record the Interest revenue. Note: Enter debits before credits. Debit General Journal Transaction Credit 1 View general journal Record entry Clear entry