On January 1, 2014, Gildan Activewear purchased a 12%, $40,000

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.
On January 1, 2014, Gildan Activewear purchased a 12%, $40,000
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