Bond Investment Premium Amortization Schedule Mercer Corporation acquired $400,000 of Park Company’s bonds on June 30, 2019, for $409,991.12. The bonds carry a 12% stated interest rate and pay interest semi-annually on June 30 and December 31. The appropriate market interest rate is 11%, and the bonds are due June 30, 2022. Required: 1. Prepare an investment interest income and premium amortization schedule, using the:       a. straight-line method       b. effective interest method 2. Prepare journal entries to record the December 31, 2019, and December 31, 2021, interest receipts using both methods.

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