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On January 1, 2017, Pronghorn Company purchased 10% bonds having a maturity value of $300,000, for $323,955.30. The bonds provide the bondholders with a 890

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On January 1, 2017, Pronghorn Company purchased 10% bonds having a maturity value of $300,000, for $323,955.30. The bonds provide the bondholders with a 890 yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Pronghorn Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indentea when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Cash Received Interest Revenue Premium Carrying Amortized Amount Date of Bonds 1/1/20 1/1/21 1/1/22

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