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On January 1, 2020, Grouper Company purchased 8% bonds having a maturity value of $280,000 for $303.589.66. The bonds provide the bondholders with a 6%

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On January 1, 2020, Grouper Company purchased 8% bonds having a maturity value of $280,000 for $303.589.66. The bonds provide the bondholders with a 6% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year, Grouper 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 indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Jan 1, 2020 eTextbook and Media e Textbook List of Accounts amortization schedule. (Round answers to 2 decimal places, eg. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Interest Revenue Premium Amortized Carrying Amount of Bonds eTextbook and Media List of Accounts Prepare the journal entry to record the interest revenue and the amortization December 31, 2020. (Round answers to 2 decimal places. 68.2.525.25. Credit account cities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account sites and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31, 2020 eTextbook and Media List of Accounts 252525. Cred Prepare the journal entry to record the interest revenue and the amortization at December 31, 2021. Round answers to 2 decimal places, entered. Do not indert mary I no entry is required, select "No Entry for the accounts and enter for the amounts) countries are automatically indented w amguntis Date Account Titles and Explanation Dec 31, 2021

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