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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 Bond Discount Interest Income Amortization e Cash Received Amortized Cost of Bond 95.11 $ 10,46 146 96.58 II 1062 162 982 10.80 180 100 $ 3188 $ 488 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 Investment at Amortized Cost 95.11 Cash 95.11 End of Year 1 Bond investment at Amortized Cost 110 Interest income 10:46 End of Year 2 Cash Bond Investment at Amortired Cost 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 $ 1.69 each year e Textbook and Media Under the above assumption, 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 o for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Day 1 End of Year 1 End of Year 2 End of Year 2 End of Year 3 (To record interest collected) (To record maturity of bond investment)

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