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On 1 January 20X2. Speedy Company purchased $3,400,000 of Wind Corp. 2% bonds, classified as an FvoCl-Bond investment for $3.094,592 The bonds pay semi-annual interest

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On 1 January 20X2. Speedy Company purchased $3,400,000 of Wind Corp. 2\% bonds, classified as an FvoCl-Bond investment for $3.094,592 The bonds pay semi-annual interest each 30 June and 31 December. The market interest rate was 4% on the date of purchase. The bonds mature on 31 December 206, At the end of 202, the bonds had a fair value of $3.300,000. On 1 July 203. Speedy sold the bonds for $3,380,000. Required: 1. Construct a table that shows interest revenue reported by Speedy for the first three interest periods. Use the effective-interest method: amporit ) Journal entry worksheet 3

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