On January 1, a company purchased 5%, 15-year corporate bonds for $59,249,660 as an investment. The bonds have a face amount of $80 million and are priced to yield 8%. Interest is paid semiannually.
Prepare a partial amortization table at the effective interest rate on June 30 and December 31
Prepare the journal entries necessary to record revenue at the effective interest rate on June 30 and December 31.