Moving to another question will save this response. Question 1 of 8 Question 1 32 points Sme Amin On January 1, 2020, Shaikha Company purchased $750,000, 8% bonds of Tori Co. for $825,000. The bonds were purchased to yield 7% interest. Interest is payable semiannually on June 30 and December 31. The bonds mature on December 31, 2025. Shaikha Company uses the effective-interest method to amortize discount or premium Required: a. Prepare the journal entry to record the purchase of bonds on January 1. Assume that the bands arc classified as available-for-sale, 4 marks Account Date Dr. Cr b. Prepare the amortization schedule for the bonds till December 31, 2021. Round up or down to the nearest dollar. 6 marks b. Prepare the amortization schedule for the bonds till December 31, 2021. Round up or down to the nearest dollar 6 marks c. Prepare the necessary journal entries for June 30 and Dec 31, 2020 assuming that the bonds had a fair value of $ 800,000 on December 31, 2020.7 marks Date Account Thr Cr