Question 1 of 4 3.52 / 5 lii On July 1, 2021, Flounder Corporation, a private company, purchased $410,400 of six-year, 8% Star Corporation bonds for $429,600. The bonds pay interest each June 30. The bonds were purchased to earn interest and the market interest rate at the time of purchase was 7%. The company uses the effective interest method to amortize any premium or discount on debt security investments. Prepare the required journal entries on July 1 and December 31, 2021, and June 30, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 1, 2021 Investments at Amortized Cost 429600 Cash 429600 (To record purchase of bond investment.) Dec. 31, 2021 Cash 15036 Investments at Amortized Cost 672 Interest Revenue 14364 (To accrue interest revenue.) June 30, 2022 Cash Investments at Amortized Cost 224 Interest Receivable Interest Revenue 5012 (To record collection of interest on bonds.)