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Entries for HTM Debt Securities: Effective Interest Method
Note: When answering the following questions, round answers to the nearest whole dollar.
Amortization Schedule
Journal Entries in Year 1
Financial Statement Presentation
Journal Entries in Year 2
d. Indicate the effects of this investment on the Year 1 income statement and year-end balance sheet.
\table[[Income Statement,Year 1],[Other Revenues and Gains,],[Interest revenue,]]
\table[[Balance Sheet,\table[[Dec.31,],[Year 1]]],[Assets,,],[Interest receivable,$,0],[Investment in HTM Securities,$,0]]
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