Question 1 On January 1, 2023, Hoist Up Company (HUC) purchased bonds of Southern Inc. that had the following characteristics: 12% coupon rate, $300,000 face value, maturing on December 31, 2027, and interest paid annually on December 31. The bonds were purchased by HUC for $311,087.69 based on an effective yield of 11%. The fair value of the bonds at December 31, 2023 was $320,500. The fair value of the bonds at December 31, 2024 was $308,900. The bonds are not considered to be impaired. REQUIRED 1. Prepare a bond amortization table for this bond investment. 2. Assume that HUC accounts for these bonds using the amortized cost method. Prepare journal entries for the following dates using the net method (round to the nearest dollar): (a) January 1, 2023; (b) December 31, 2023; and (c) December 31, 2024. 3. What is the balance of the Bond Investment as of December 31, 2023? Highlight your answer. 4. What is the balance of the Bond Investment as of December 31, 2024? Highlight your answer.