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Phantom Company acquires $200,000 of Spiderman Products, Inc., 9% bonds at a price of $185, 589. Interest is received on January 1 of each year,

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Phantom Company acquires $200,000 of Spiderman Products, Inc., 9% bonds at a price of $185, 589. Interest is received on January 1 of each year, and the bonds mature on January 1, 2020. The investment will provide Phantom Company a 12% yield. The bonds are classified as held-to-maturity. Instructions Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight-line method. Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective-interest method. Prepare the journal entry for the interest revenue and discount amortization under the straight-line method at December 31, 2018.Prepare the journal entry for the interest revenue and discount amortization under the effective-interest method at December 31, 2018

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