On January 1, 2017, Flint Company purchased $250,000, 6% bonds of Aguirre Co. for $229,722. The bonds were purchased to yield 8% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 2022. Flint Company uses the effective-interest method to amortize discount or premium. On January 1, 2019, Flint Company sold the bonds for $231,233 after receiving interest to meet its liquidity needs. Prepare the journal entry to record the purchase of bonds on January 1. Assume that the bonds are classified as available-for-sale. (Credit account titles are automatically indented when amount is entered. Do not indent ma If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Credit Date Account Titles and Explanation Jan. 1, 2017 LINK TO TEXT Prepare the amortization schedule for the bonds. (Round answers to 0 decimal places, e.g. 1,250.) Schedule of Interest Revenue and Bond Discount Amortization Effective-Interest Method Bonds Purchased to Yield Interest Receivable Bond Or Interest Discount Cash Received Revenue Amortization Carrying Amount of Bonds Date 1/1/17 7500 7/1/17 7500 1/1/18 7500 Schedule of Interest Revenue and Bond Discount Amortization Effective-Interest Method Bonds Purchased to Yield Interest Receivable Bond Or Interest Cash Received Revenue Amortization Carrying Amount of Bonds Date 1/1/17 7500 7/1/17 7500 1/1/18 7500 7/1/18 7500 1/1/19 7500 7/1/19 7500 1/1/20 7500 7/1/20 7500 1/1/21 7500 7/1/21 7500 1/1/22 7500 Total 82500 (c) (d) (e) Prepare the journal entries to record the semiannual interest on (1) July 1, 2017, and (2) December 31, 2017. If the fair value of Aguirre bonds is $233,233 on December 31, 2018, prepare the necessary adjusting entry. (Assume the fair value adjustment balance on January 1, 2017, is a debit of $3,679.) Prepare the journal entry to record the sale of the bonds on January 1, 2019. (Round answers to 0 decimal places, e.g. 2,500. Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Debit Credit (c) (1) July 1, 2017 (2) Dec. 31, 2017 (d) Dec. 31, 2018 (e) Jan. 1, 2019