On January 1, 2014, Gildan Activewear purchased a 12%, $40,000 Telus bond with a three-year term for $42,030. Interest is to be paid semi-annually each June 30 and December 31. Gildan is planning to hold the bond until maturity. Record the entries on January 1, 2014, June 30, 2014, and December 31, 2016, using the amortization schedule providedbelow.

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Cash Interest Received Period Interest Revenue Premium Amort. Unamortized Carrying Period Ending Jan. 1/14 Dec. 31/14 Dec. 31/15. 2,400 2,400 2,400 2,400 2,400 2,400 $14,400 S 2,102 2,087 2,071 2,055 2,037 2,018 $12,370 $298 313 329 345 363 382 $2,030 Premlum $2,030 1,732 1,419 1,090 Value $42,030 41,732 41,419 41,090 40,745 40,382 40,000 745 382 -0 Totals