Question: Entries for HTM Debt Securities: Effective Interest Method On July 1 of Year 1 , West Company purchased for cash, eight $10,000 bonds of North

Entries for HTM Debt Securities: Effective Interest Method On July 1 of Year 1 , West Company purchased for cash, eight $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature in three years on July 1 . The bonds are classified as held-to-maturity securities. West Company's annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Note: When answering the following questions, round answers to the nearest whole dollar. a. Prepare a bond amortization schedule for Year 1 and Year 2 using the effective interest method

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