January 1, 2020, Altaj Company acquires $400,000 of toothpaste Products, Inc., 9% bonds at a price of $350,450. Interest is received on January 1 of each year, and the bonds

January 1, 2020, Altaj Company acquires $400,000 of toothpaste Products, Inc., 9% bonds at a price of $350,450. Interest is received on January 1 of each year, and the bonds mature on January 1, 2022. The investment will provide Altaj Company a 12% yield. The bonds are classified as held-to-maturity.Required a. Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the straight line method.b. Prepare a 3-year schedule of interest revenue and bond discount amortization, applying the effective interest method.c. Prepare the journal entry for the interest revenue and discount amortization under the straight-line method at December 31, 2021.d. Prepare the journal entry for the interest revenue and discount amortization under the effective interest method at December 31, 2021

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