Question: On January 1 , 2 0 2 5 , Marin Company purchased 1 0 % bonds having a maturity value of $ 3 8 0

On January 1,2025, Marin Company purchased 10% bonds having a maturity value of $380,000 for $410,343.38. The bonds provide the bondholders with a 8% yield. They are dated January 1,2025, and mature January 1,2030, with interest received on January 1 of each year. Marin Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.
On January 1,2025, Marin Company purchased 10% bonds having a maturity

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