Use the following to answer questions 16-17: Landis Company purchased $3,000,000 of 8%, 5-year bonds from Ritter, Inc. on January 1, 2018, with interest payable on July 1 and January 1, The bonds sold for $3,124,740 at an effective interest rate of 7%. Using the effective-interest method, Landis Company decreased the Available-for-Sale Debt Securities account for the Ritter, Inc, bonds on July 1, 2018 and December 31, 2018 by the amortized premiums of $10,620 and $10,980, respectively