Using the data from Exercise 15-15, record the entries using the straight-line method for amortization of discounts

Question:

Using the data from Exercise 15-15, record the entries using the straight-line method for amortization of discounts and premiums.
In exercise 15-15
Journalize the entries to record the following selected held-to-maturity investment transactions for ABC Company:
1. Purchased for cash $16,000,000 of Cummins eight-year, 6% bonds at 96.9 on their issuance date, April 1, 2015. ABC Company intends to hold these bonds to their The market rate was 6.5%.
2. Recorded receipt of the first semiannual interest payment and amortization of the discount on October 1, using the effective interest method.
3. Recorded accrued interest and amortization of discount at December 31, ABC Company's year-end.
4. Recorded receipt of cash for the bonds on their date, April 1, 2023.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...