On january 1, 2014, Hummer Company purchased 5% bonds, having a maturity value of $500,000, for $428,938. The bonds provide the bondholders with a 7% yield. They are dated january1, 2014, and mature january 1, 2024, with interest receivable june 30 and december 31 of each year. Hummer company uses effevtive-interst method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category Prepare the journal entry at the bond purchase. Prepare the first 3 years of a bond amortization schedule. Prepare the journal entries to record the interest received and the amortization fo 2014