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Use the following information to answer question 13 to 14 On January 1, 2019, Patton...

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Use the following information to answer question 13 to 14 On January 1, 2019, Patton Company invests in a corporate bond with face value: $1,500, maturity: 20 years and coupon rate: 10%. Interest is payable each June 30th and December 31". At the time of the investment is made, the market yield is 11%. Patton pays $ 1,410 for the investment. Patton uses the effective interest method to amortize premium/discount on the investment. Patton plans to hold these bonds to maturity. 13. On June 30, 2019, Patton would post which of the following journal entry to record interest revenue received? A. Debt investment................... 5.10 Cash.. * 150.00 Interest Revenue............... ...5 155.10 B. Premium on Bond.....................$ 2.55 Cash... S 25.00 Interest Revenue................577.55 C. Debt investment...... ..........5 2.55 Cash ....................... 575.00 Interest Revenue........ ... .....577.55 D. Discount on Bond......... .....5 5.10 Cash. ..........$ 150.00 Interest Revenue.................. 155.10 14. For the year ended at December 31", 2019, total interest revenue from the investment is A. $155.28 B. $158.97 C. $155.13 D. $150.00

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