View Policies Current Attempt in Progress On April 1, 2021, Ayayai Corporation issued $296,000, 5-year bonds. On this date, Shoreline Corporation purchased the bonds from Ayayai to earn interest. Interest is received semi-annually on April 1 and October 1 and Shoreline's year end is March 31. Below is a partial amortization schedule for the first three interest periods of the bond issue. Semi-Annual Interest Period Interest Interest Received Revenue Amortization Bond Amortized Cost April 1, 2021 $309,649 October 1, 2021 $5,920 $4,645 $1,275 308,374 April 1, 2022 5,920 4.626 1.294 307,080 October 1, 2022 5.920 4,606 1,314 305,766 Were the bonds purchased at a discount or at a premium? ENG Question 12 of 15 < Were the bonds purchased at a discount or at a premium? Bonds purchased at a 1 What is the face value of the bonds? Face value of the bonds $ -/15 E Question 12 of 15 < > What will the bonds' amortized cost be at the maturity date? Bonds' amortized cost at the maturity date $ /15 What is the bonds' contractual interest rate? The market interest rate? (Round answers to 2 decimal places, e.g. 52.75) Contractual interest rate Market interest rate Annual Semi-annual % 96 -c nny Question 12 of 15 < -/15 E Prepare the journal entries to record the purchase of the bonds; the receipt of interest on October 1, 2021; the accrual of interest on March 31, 2022; and the receipt of interest on April 1, 2022. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date: Account Titles and Explanadon (To record purchase of investment.) (To record collection of interest) Debit Credit ENG US 2022-0 Question 12 of 15 < > (To record collection of interest.) -/15 E (To accrue interest revenue.) 3 (Collection of interest receivable.) Attempts: 0 of 5 used Submit Ar