Current Attempt in Progress * Your answer is incorrect. Cullumber Company purchased $1550000 of 11% bonds of Scott Company on January 1, 2021, paying $1461108. The bonds mature January 1, 2031; interest is payable each July 1 and January 1. The discount of $88892 provides an effective yield of 12%. Cullumber Company uses the effective-interest method and plans to hold these bonds to maturity. For the year ended December 31, 2021, Cullumber Company should report interest revenue from the Scott Company bonds of: O $179389. $175477. O $170500. $175332 e Textbook and Media Current Attempt in Progress On October 1, 2021, Sheridan Company purchased to hold to maturity, 430, $1000, 8% bonds for $450000. An additional $15,000 was paid for accrued interest. Interest is paid semiannually on December 1 and June 1 and the bonds mature on December 1, 2025. Sheridan uses straight-line amortization. Ignoring income taxes, the amount reported in Sheridan's 2021 income statement from this investment should be O $8600. $7400. O $11000. O $9800. e Textbook and Media Save for Later