On January 1, 2020, Bridgeport Company purchased 9% bonds having a maturity value of $290,000, for...

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On January 1, 2020, Bridgeport Company purchased 9% bonds having a maturity value of $290,000, for $313,782.32. The bonds provide the bondholders with a 7% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Bridgeport Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Your answer is incorrect. Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Date Cash Received 1/1/20 Carrying Ar of Bonc 1664.76 $ 3 Premium Amortized 21964.76 $ Interest Revenue 20300 $ 1/1/21 20300 21848.23 1/1/22 20300 21739.85 1548.23 3 1439.85 3 1/1/23 20300 21639.06 1339.06 3 1/1/24 20300 21545.33 1245.33 3 1/1/25 21458.16 1158.16 3 On January 1, 2020, Bridgeport Company purchased 9% bonds having a maturity value of $290,000, for $313,782.32. The bonds provide the bondholders with a 7% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Bridgeport Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Your answer is incorrect. Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 2,525.25.) Schedule of Interest Revenue and Bond Premium Amortization Effective-Interest Method Date Cash Received 1/1/20 Carrying Ar of Bonc 1664.76 $ 3 Premium Amortized 21964.76 $ Interest Revenue 20300 $ 1/1/21 20300 21848.23 1/1/22 20300 21739.85 1548.23 3 1439.85 3 1/1/23 20300 21639.06 1339.06 3 1/1/24 20300 21545.33 1245.33 3 1/1/25 21458.16 1158.16 3