part b

On January 1, 2020, Headland Company purchased 12% bonds having a maturity value of $230,000, for $247,437 40. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2020, and mature January 1, 2025.with interest received on January 1 of each year. Headland Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Debit Credit Date Account Titles and Explanation Jan. 1. Debt Investments 2020 247.437.40 Cash 247.437.40 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Your answer is partially correct. Prepare a bond amortization schedule. (Round answers to 2 decimal places, eg. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Cash Interest Premium Received Revenue Amortized Carrying Amo of Bonds 247