PROBLEM 1(Use 6-column worksheet) The following account appears on the books of ELOHIM Company. Prepare any necessary correcting entries, assuming that the debt investment is designated @ amortized cost securities, the term is ten years. Unit Date Transactions Debit Cost Credit 8/1/2008 Purchased 10 bonds at 90 plus interest of P400 900 9,400 600 10/1/200 Received P600 interest 8 11/1/200 Sold 5 bonds, sales price plus interest, less 8 commission 4,400