On January 1, 2015, Morgan Company acquires $300,000 of Nicklaus, Inc., 9% bonds at a price of $278,384. The interest is payable each December 31, and the bonds mature December 31, 2017. The investment will provide Morgan Company a 12% yield. The bonds are classified as held-for-collection, Your answer is partially correct. Try again. Prepare a 3-year schedule of interest revenue and bond discount amortization. (Round answers to 2 decimal places, e.g. 5,275.25.) Schedule of Interest Revenue and Bond Discount Amortization 9% Bond Purchased to Yield 12% Carrying Amount of Bonds Date Cash Received Interest Revenue Bond Discount Amortization 1/1/15 51278,384 ... 12/31/15 12000 $ 27000 134,205 7,205 285,589 12/31/16 7,205 292,795 XL 27000) 34,205 zon 27000 x 12/31/17 35,035.11* 7,206 300,000 *Rounded by $0.68. x Your answer is incorrect. Try again. Prepare the journal entry for the interest receipt of December 31, 2016, and the discount amortization. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to 2 decimal places, e.g. 5,275.25.) Credit x Date Account Titles and Explanation Debit December 31, 2016 127000 33406.08 x X 27000 34174.81 284,790.08 x 291,964.89 x 27000 35035.11 300,000 Question Attempts: 1 of 2 used