On January 2, 2018 Pearl corporation purchased 10%, $3,000,000 bonds of Gold Company to yield 11%. The bonds are due December 31, 2027 and pay interest annually each December 31. Pearl intention is to generate profit from short-term differences in prices and accordingly, has classified the debt investment as trading. Following is a partial amortization schedule for these bonds extracted from Pearl's records AMORTIZATION SCHEDULE 10-Year, 10% Bonds Sold to Yield 11% Carrying Date Cash Received Interest Revenue Discount Amortized Amount of 1/2/18 0 0 0 Bonds $2,823,310 12/31/18 $300,000 ??? ??? ??? 12/31/19 300,000 311,726 11,726 2,845,600 12/31/20 300,000 313,016 13,016 2,858,616 12/31/21 300,000 ??? ??? ??? 12/31/22 300,000 316,038 16,038 2,889,102