On January 1, 2020,SwiftyCompany purchased8% bonds having a maturity value of $200,000, for $216,849.76. The bonds provide the bondholders with a6% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year.SwiftyCompany uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.

The journal entry at the date of the bond

On January 1, 2020, Swifty Company purchased 8% bonds having a maturity value of $200,000, for $216,849.76. 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. Swifty Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classied in the held-to-maturity category. Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e3. 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 0 for the amounts.) Date Account Titles and Explanation Jan. 1, 2020 Debit Credit 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 Interest Premium Carrying Amount Date Received Revenue Amortized of Bonds 1/1/20 $ $ $ $ 1/1/21 1/1/22 1/1/23 1/1/24 1/1/25Prepare the journal entry to record the interest revenue and the amortization at December 31, 2020. (Round answers to 2 decimal places, e3. 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 3 1, 2020 Prepare the journal entry to record the interest revenue and the amortization at December 31, 2021. (Round answers to 2 decimal places, eg. 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 3 1, 202 1