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a Sarasota Corp. Invested in a three-year $100 face value 9% bond, paying $95.11. At this price, the bond will yield a 11% return Interest is payable annually Prepare a bond discount amortization table for Sarasota Corp., assuming Sarasota uses the effective interest method required by IFRS. (Round answers to 2 decimal places, e.g. 52.75.) Bond Discount Amortization Table Cash Received Interest Income Bond Discount Amortization Amortized Cost of Bond 95.11 $ 1046 1.46 96.58 IT IN 1062 1.62 98.2 10.80 180 100 $ 31.88 $ 483 Prepare journal entries to record the initial investment, receipt of interest, and recognition of interest income in each of the three years, and the maturity of the bond at the end of the third year. (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 for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Day 1 Bond livestment at Amortized Cost 95.11 Cash 95.11 End of Year 1 Cach Bond Investment Amortixed cost 146 Interest income 1046 End of Year 2 Bond Investment at Amortized com Interest income 106 Assuming Sarasota Corp, applies ASPE and has chosen to use the straight-line method of amortization, determine the amount of discount that is amortized each year. (Round answer to 2 decimal places, e.g. 52.75.) Straight-line discount amortization $ each year

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