On July 1, 2016, kirmer Corp. purchased $450,000 of 5% bonds, interest payable on January 1 and July 1, for $472, 020, 41. The bonds mature on January 1, 2022. Amortization is by the effective interest method. (Assume bonds are available for sale and the effective interest rate at the purchase date was 4%.) Instructions Prepare the entry for the purchase of the investment. Prepare the amortization table for the years 2016 and 2017. The bonds are sold on August 1. 2017 for $424,000 plus accrued interest. Prepare all entries required to properly record the sale