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On January 1, 2020, Cage Company acquired bonds of Rand Products, Inc. Additional information concerning the bond investment follows. The interest is received on January

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On January 1, 2020, Cage Company acquired bonds of Rand Products, Inc. Additional information concerning the bond investment follows. The interest is received on January 1 of each year, and the bonds mature January 1 , 2023. The bonds are classified as held-to-maturity. Instructions: (a) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method b) Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective-interest method. Schedule of Interest Revenue and Bond Discount Amortization Effective-Interest Method

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